Meanwhile, October 17 could be the big day for the BCCI as well as those intending to bid for the two new teams of the Indian Premier League – IPL 2022. Since the bidding day is just two days after the IPL 2021 final in Dubai and the day the Twenty20 World Cup kick-starts in Muscat, there may be a chance that the bidding could take place in one of the Middle East cities – Dubai or Muscat.
IPL 2022 Bidding Auction For The New Two Teams Will Be Held Likely On October 17
The BCCI has told the potential bidders that the final date and venue will be intimated later. BCCI has informed the parties of three key dates – September 21, October 5, and October 17. Clarifications can be sought up to September 21, whereas the ITT (Invitation To Tender) document will be available for purchase till October 5 and the auction will be held, most likely, on October 17.
It has been confirmed that there will be no e-auction and the age-old practice of the closed bidding process will be followed. 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 in IPL 2022. Currently, the league has eight teams and each team gets to play the same, seven home and as many away games.
In the revised scenario, there should be nine home and nine away games but due to the absence of a larger window, it is likely that the BCCI will stick for 14 games while keeping the option of 18 league games in the agreement open.
The number of league matches in total could be either 74 or 94, depending on the window available. Next year, when the current cycle of media rights ends, there will be 74 games with all teams getting to play seven home and seven away games in a format of two groups.
BCCI has made it clear that each bidder should have a net worth of Rs 2500 crores and the company has to have a turnover of Rs 3000 crores. In the case of a consortium, the BCCI will allow only three partners, and one of them has to fulfil the above criteria of Rs 2500 crore net worth and Rs 3000 crore turnover. As has been reported, the base price is Rs 2000 crore.
There will be two stages for bidding – legal and financial. Once the legal department is satisfied with the bidder’s qualifying criteria, the financial bid will be opened. One can bid for two to six cities, marking the value one is willing to provide for each centre. Ahmedabad, Lucknow, Indore, Cuttack, Guwahati, and Dharamsala are the cities available for bidding. Needless to mention, the two highest bidders will get the teams.
The teams will have to pay 10 per cent of the franchise fee every year for 10 years and will be entitled to 50 per cent revenue share and post the 10-year period, the franchises will have to pay 20 per cent of its income and will continue to receive 50 per cent of the central pool of revenue after every IPL season.
The BCCI is also silent on the players to be retained by the existing teams. It is understood that the board may allow two retentions and two Right To Match (RTM) cards with a balance struck on the number of Indian and foreign players allowed to be retained. The retention details for IPL 2022 are expected to be announced in November and the mega auction is likely in January 2022.
IPL 2022 is set to be a ten-team affair, with two new franchises added to the group. The change will see the league revert to a ten-franchise competition for the first time since 2011, having been an eight-team event since 2014.
Sanjiv Goenka Of The Defunct Rising Pune Supergiants Is Tipped To Buy The Lucknow Franchise In IPL 2022
Quite a few parties, including some agencies, are believed to have bought the ITT document and one of them is Sanjiv Goenka of the RPSG Group that had previously owned the Pune franchise for two years.
Sanjiv Goenka is tipped to buy the Lucknow team in IPL 2022 auctions. The big corporate giants including Kolkata-based RP-Sanjiv Goenka Group, Hyderabad-based Aurobindo Pharma Ltd; the Adani group headquartered in Ahmedabad; and the Torrent Group have shown their interests in owning a new IPL franchise in IPL 2022.
IPL franchises are allowed to retain 4 players, either it can be 3 Indians and 1 overseas or 2 Indians and 2 overseas for IPL 2022 ahead of the mega auction. The salary of the retained players will be – INR 15 Crores, INR 11 Crores, and INR 7 Crores (if a franchise retains three cricketers). The structure will be INR 12.5 Crores and INR 8.5 Crores if two players are retained by a franchise and INR 12.5 Crores for only a single player retained.