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IPL: Auction for New IPL teams likely to take place on October 17

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Auction for New IPL teams likely to take place on October 17

The Board of Control for Cricket in India (BCCI) has started the IPL 2022 session. BCCI confirmed that there will be 10 teams in 2022 IPL.

As per the latest report, the auction for the two new franchises is likely to take place on October 17.

As is being one of the popular Cricket events in the world, many firms and businesses eyeing becoming the owners of new franchises.

With the base price of both teams being around INR 2000 crore, BCCI is expected to get richer by at least INR 5000 crore by the end of the auction event.

Cricbuzz reported the bidding event is most likely to take place on October 17. As per the obtained information, BCCI has informed the parties of three key dates – September 21, October 5, and October 17. Clarifications can be sought up to September 21, 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.

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It has also confirmed that the traditional bidding method will be followed. Given the reported auction date is just two days after the IPL final in Dubai and the day the T-20 World Cup kick-starts in Muscat.

IPL has been an eight-team event since 2014 and the inclusion of two new sides will definitely change the dynamics.

Instead of 14, each team will play 18 matches in the league stages. Speaking of IPL 2020, the competition will resume on September 19 with all the remaining matches taking place in UAE.

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