There are 6 cities in the fray, including Lucknow Guwahati, Ahmedabad and Cuttack.
IPL 2022: The Board of Cricket Control of India invites bids for two fresh franchises; six cities in the fray. The Indian Premier League will be a 10-team tournament from next year.
While the IPL Governing Council finalised adding two new franchises on Monday, the BCCI has been pondering the move for the last two years.
ESPNcricinfo wrote that the minimum tender amount for each new franchise would be Rs 2000 crore ($270M approx). There are 6 cities in the fray, including Lucknow Guwahati, Ahmedabad and Cuttack.
The BCCI stated that any interested bidder could select more than one bid document, which costs Rs 10 lakhs but can own only one franchise.
IPL 2022: How will ten teams play each other
The 2022 IPL edition will follow the 2011 model, which scrapped the uncomplicated home-and-away format and introduced a total of 74 matches.
In 2011, the ten franchisees were divided into two random groups, and the competition held 70 league games and four playoff matches. Each team will play 14 games in the league phase.
BCCI aims Rs. 5000 cr with IPL 2022 bidding!
Companies with a yearly turnover of Rs. 3000 crore plus can bid for a franchise. BCCI has fixed the base amount for bidding to Rs. 2000 crores. Hence, the board is anticipating Rs five thousand crore earnings through team biddings.
Gulte.com quoted a BCCI senior official telling PTI, “Any company can buy the bid document paying Rs 75 crore. Earlier top brass was thinking about keeping the base price for two new teams at Rs 1700 crore, but later it was decided to keep the base price at Rs 2000 crore.”
“The BCCI is expecting anything in the range of 5000 crores if not more. There will be 74 IPL games next season, and it’s a win-win situation for everyone,” the report further added.