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RPSG And CVC Capital Win IPL Franchise Bidding, Lucknow And Ahmedabad Are Two New Teams
By Aditya Pratap - Oct 25, 2021 8:59 pm
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The Board of Control for Cricket in India (BCCI) has revealed, on Monday, the two new teams in the Indian Premier League 2022 will be based in Ahmedabad and Lucknow after the bidding process ended in Dubai. Sanjeev Goenka’s RPSG and CVC Capital Partners won the bid at Dubai’s Taj Hotel.

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IPL trophy

Sanjeev Goenka’s RPSG picked Lucknow as their base team with a winning bid of INR 7090 crores while CVC Capital Partners have opted for Ahmedabad with a successful bid of INR 5625 crores.

Also Read: IPL Bidding: Deepika Padukone and Ranveer Singh join the race to buy new IPL team

The BCCI on September 21 announced that they have decided to extend the purchasing date for the Invitation to Tender (ITT) for the right to own and operate one of two proposed new IPL team documents till October 20 from the original deadline of October 5.

“The Governing Council of the IPL had issued an Invitation to Tender (“ITT”) to acquire the right to own and operate 2 (two) new franchises. Pursuant to the tender process, various interested parties submitted their bids for the new franchises. The bids were submitted by the authorised representatives of the interested parties at Dubai today.

“BCCI is pleased to announce the following successful bidders (subject to definitive documentation and other formalities being completed):

  1. RPSG Ventures Ltd. Lucknow (for INR 7090 crores)
  2. Irelia Company Pte Ltd. (CVC Capital Partners) Ahmedabad (for INR 5625 crores)

Also Read: CSK bags fourth IPL title as KKR collapsed, Twitter reacts

“The new franchises will participate in IPL from 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches,” the Indian cricket board said in an official release.

Chennai Super Kings won the IPL 2021

Among other major bidders was Gautam Adani of Adani Group, who put a bid around INR 5000 crores. Football club Manchester United’s owner Glazers were also bidding in Dubai but they fall behind the original two winners.

This will increase the number of teams in the IPL from eight to ten. BCCI had previously conducted a ten-team IPL back in 2012 when Kochi Tuskers Kerala and Pune Warriors India joined the original eight teams in the fray. Both teams got terminated later on and the league was reduced to an eight-team tournament again.

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