The bidding process for owning two new IPL teams will begin from February 21, tweets IPL Chairman & Commissioner Lalit Modi on Wednesday afternoon.
“Tenders can be collected from BCCI/IPL offices from 21st February for 2 new Teams. The bids will be opened on 8th March 2010 in Mumbai”, said Modi.
The Base price will be $ 225 million for the two new teams, he wrote.
Details of criteria for bidding will be available in the tender document.
New Team owners and management will have access to IPL season 3 which would prepare them better for Season 4.
Ahmedabad, Nagpur, Kanpur, Dharamshala, Indore, Cuttack, Gwalior, Vishakhapatnam are the current cities with stadium that can invite bids.
While Rajkot, Pune, Baroda and Cochin, which have new stadium going under construction will also be eligible for the bid.
The details for the bidding process for two new teams will be posted on IPLT20.com on February 21, he said.
The IPL commissioner wishes “everyone the best of luck to own the next two valuable IPL franchises”.