New Delhi: The IPL Board of Government on Tuesday decided to issue an intention letter for the new IPL franchise Lucknow and Ahmedabad, formalizing the largest T20 league in the world.
RPSG Group and private investment company CVC has managed to bid by the Franchise of Lucknow and Ahmedabad, last October.
However, LoI was delayed after appearing that CVC had a link with betting companies outside India.
BCCI, with the help of his legal team, took the time to investigate this problem before deciding to approve the CVC bid.
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BCCI has found a new title partner at Tatas, and the agreement has “an offer approved by GC today, LoI will soon be issued,” said Chairman of the IPL Brijesh Patel to PTI after the meeting.
The issuance of LOI means the two teams formally are part of the IPL, which allows them to choose players in front of auction on February 12 and 13 in Bengaluru.
Both franchises have recruited support staff and they can now continue and register up to three players each of the draft picks ahead of the Mega auction.
Kl Rahul is expected to lead Lucknow and Hardik Pandya Ahmedabad.
The new team will get 10-14 days to choose a player: Patel Head IPL says GC plans to give them 10-14 days to choose the players before the auction.
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“We have spoken with a new team, we plan to give them 10 days to two weeks,” Patel said, added that there was no change on the date and auction place.
With India experiencing the third wave of Covid-19 pandemic, BCCI explores the backup option for the IPL, which is expected to be held in April-May, and that includes organizing all events in one country.
However, Patel said it was too early to decide on this problem.
“We want to play in India but we have to see the situation,” he added.
The entire 2020 edition was held in the UAE because of a pandemic.
The tournament returned to India the following year but had to be suspended in May amid the second wave of destruction in this country.
The rest of the IPL must be completed in the UAE in September-October.
“Until now, we accommodate it in India but the situation is liquid.
It is still too early to think about shifting it outside,” added BCCI officials.