IPL: Sanjiv Goenka in lead to acquire new Lucknow franchise for next edition - reports

Image used for representational purpose

Two new franchise are all set to be a part of the Indian Premier League structure from the next edition, for which the bidding is reported to be held on October 17. 

As of now there have been reports that one of two franchise could be owned by Sanjiv Goenka, who had previously been part of the cash-rich league previously with the defunct Pune team.  

A report in Cricbuzz stated that Goenka, the founder of RPSG Group, is tipped to buy the Lucknow team.  

Meanwhile, a souce close to the development was quoted by ANI as saying: "The bidding is set to take place on October 17 while queries regarding the same can be made till September 21."

The Governing Council of IPL on August 31 had invited 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 tournament from the 2022 season, through a tender process.

"The detailed terms and conditions governing the submission and evaluation of bids including eligibility requirements, process for submissions of bids, proposed new teams' rights, and obligations, etc. are contained in the 'Invitation to Tender' ("ITT") which will be made available on receipt of payment of non-refundable fee of INR 10,00,000 (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax," the BCCI had said in an official release.