Auction for new IPL team for next season to take place on October 17

The BCCI is planning to have an e-bidding for the two new IPL teams on October 17 and the bids to buy the sides can be made till October 5.

"The Board is planning to have the bidding on 17th October and it will be an e-bidding," sources in the know of things told PTI on Tuesday.

The BCCI had on August 31 invited bids to own an IPL franchise with "Invitation to Tender" available for purchase till October 5.

"The Governing Council of the IPL invites bids to acquire the right to own and operate 1 (one) of the 2 (two) new teams proposed to be introduced to take part in the Indian Premier League from the IPL 2022 season, through a tender process," the BCCI had said in a statement.

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"Any interested party wishing to submit a bid is required to purchase the ITT.

"However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid," the cricket body had said.

Among the venues where the teams could be based include Ahmedabad, Lucknow and Pune.

The Narendra Modi Stadium in Ahmedabad and Ekana Stadium in Lucknow, with bigger capacities, could be the choice for the franchises.

Some of the business houses doing the rounds include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent and a prominent banker who has shown active interest in buying teams.