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BCCI releasing tender for two new IPL teams
MUMBAI: The Board of Control for Cricket in India (BCCI) is releasing an invitation to tender (ITT) for the right to operate and manage the two proposed new IPL franchises that will form part of the league during the 2016 and 2017 seasons but not thereafter.
The rights on offer include the right to manage the two franchises during the 2016 and 2017 seasons but not thereafter, to exploit team rights, to stage home league matches at the stadiums provided to the franchises by the BCCI (as detailed in the ITT and franchise agreement) and a host of other rights.
The ITT document will be available for collection (against a formal request letter on official letterhead) at the BCCI headquarters from 16 to 30 November at a cost of Rs 2,00,000 (non-refundable and non-adjustable) to be paid vide a demand draft drawn in favour of the BCCI payable at Mumbai. Only parties that have purchased the ITT document (or belonging to the same group of companies on whose behalf the ITT document was purchased) are entitled to participate in the tender process.
One can expect companies that are looking to test the IPL waters to put their hands up. Since it is not a long-term commitment, it can be used as an experiment. What is interesting is the reverse bid process that will be used for the first time.