The Governing Council of the Indian Premier League (IPL), during a meeting on Tuesday, stated that it would be introducing two new teams to the marquee tournament on October 25. It was announced that a day after India-Pakistan T20 World Cup encounter, scheduled to be held in the United Arab Emirates (UAE) and Oman, that it would be introducing two new teams to the marquee tournament on October 25.
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on October 25 2021,” said BCCI in an official statement. The BCCI had earlier 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. On August 31, BCCI had released a tender to own and operate an IPL team with a deadline set for Oct 5. “Interested parties are requested to email at [email protected] to get further details for purchasing the ITT,” the statement added. The ITT will be available to interested parties on receipt of payment of the non-refundable tender fee of Rs 10,00,000 (Rupees Ten Lac Only) plus any applicable Goods and Services Tax. All other terms contained in the Invitation document shall be applicable. The cash-rich league which was founded by the BCCI in 2007 currently hosts eight teams.