Currently, Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala are available for bidding.
The Indian Premier League (IPL) will all but see 10 teams face each other in the next edition and according to the Board of Control for Cricket in India (BCCI), October 17 could be the D-Day for those intending to bid for the two teams of the IPL.
According to Cricbuzz, BCCI has informed the parties of three key dates - September 21, October 5 and October 17. The day is just two days after the IPL final in Dubai and the day the Twenty20 World Cup kick-starts in Muscat. The BCCI is understood to have told the potential bidders that the final date and venue will be intimated later.
Clarifications on the same can be sought up to September 21, the ITT (Invitation To Tender) document will also be available for purchase till October 5.
The auction will be held, most likely, on October 17 and it has been confirmed that there is no e-auction and the age-old practice of closed bidding process will be followed.
What changes will be seen after the increase in teams?
The first change that will be seen is the number of league matches for each team will be either 14 or 18 with a minimum of seven home and seven away games assured to each franchise.
Currently, the cash-rich tournament has eight teams and each team plays seven home and as many away games. However, in the revised scenario, there could be nine home and nine away games. It is likely that the BCCI will stick for 14 games, keeping the option of 18 league games in the agreement open.
Not just that, the number of league matches in total could be either 74 or 94, depending on the window available. With the changes brought in for next year, there will be 74 games with all teams getting to play seven home and seven away games in a format of two groups.
What about financial requirements for each team?
The BCCI had already made it clear that each bidder would have a net worth of Rs 2500 crores and the company has to have a turnover of Rs 3000 crores.
However, in the case of a consortium, the BCCI will allow only three partners and one of them has to fulfil the above criteria. According to reports, the base price is Rs 2000 crore.
As the tournament, it will also see two stages for bidding - legal and financial. Once the legal department is okay with the bidder's qualifying criteria, the financial bid will be opened.
A bidder can bid for two to six cities, and currently, Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala are available for bidding.
According to some agencies, few parties are to be believed to have bought the ITT document. One of them is Sanjiv Goenka of the RPSG Group who previously owned the Pune franchise for two years. Goenka is tipped to buy the Lucknow team.
The process will see teams having to pay 10 per cent of the franchise fee every year for 10 years. They will be entitled to a 50 per cent revenue share and post the 10-year period.
The franchises will also have to pay 20 per cent of their income and will continue to receive 50 per cent of the central pool of revenue after every IPL season.
What about player retention?
Currently, the BCCI has not said anything on the players to be retained by the existing teams. It is, however, understood that the board may allow two retentions and two Right To Match (RTM) cards. This will be with a balance struck on the number of Indian and foreign players allowed to be retained.
According to Cricbuzz, the retention details are expected to be announced in November and the mega auction is likely to be held in January 2022.
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