Breaking: Ahmedabad and Lucknow bided as new teams of IPL

Dubai, 25/10:In a major development, RPS Goenka group bagged the Lucknow-based franchise for its highest bid at ₹7,000 crore, according to a PTI report. Meanwhile, Ahmedabad-based franchise will be owned by CVC Group.

The official announcement is yet to be made even after hours-long bidding process, including verification and technical evaluation. Around 10 parties are reported to have submitted bids for new teams. All the financial bids have been verified and approved for further process. Initially, 22 companies have picked up tender document worth ₹10 lakh but with base price for new teams pegged at ₹2,000 crore, there were only ten serious bidders in fray. The governing council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) document available on payment of the non-refundable tender fees on August 31, 2021.

Manchester United owners showing interest to be a part of the IPL may be one of the reasons why the Board of Control for Cricket in India (BCCI) on September 21 informed they have decided to extend the date for purchasing the Invitation to Tender (ITT) for the right to own and operate one of two proposed new IPL teams document till October 10 from the initial deadline of October 5.

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