The list of participating teams in the Indian Premier League has now been extended to 10, with Ahmedabad and Lucknow named the latest entrants. On Monday, the Board of Control for Cricket in India announced that CVC Capital Partners, a private equity and investment advisory firm, won the bid for the Ahmedabad team, while the Sanjiv Goenka-owned RPSG Group, which earlier owned IPL franchise Rising Pune Supergiant, won the bid for the Lucknow team. The RPSG Group’s winning bid was Rs 7090 crores while CVC Capital Partners’ bid was of Rs 5625 crores.
The BBCI said in an official statement, “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.”
The release further added, “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)”
The Indian cricket board had shortlisted six cities in September for the two new teams. Along with Ahmedabad and Lucknow, four other cities were Cuttack, Guwahati, Ranchi and Dharamsala.
It has also been revealed that the 2022 season will have 74 matches, wherein each team will play seven games at the home ground and seven away. This is not the first time when 10 games will participate in the cash-rich tournament. In 2010, Pune Warriors India and Kochi Tuskers Kerala were the new entrants but were terminated later on.
RPSG earlier owned the Pune franchise for the 2016 and 2017 season, and presently own majority of the stakes at Indian Super League club ATK Mohun Bagan.
IPL 2021 came to an end last week with Chennai Super Kings winning their fourth title after beating Kolkata Knight Riders in the final. Ahead of the 2022 season, a mega auction will take place where all the players except a few who will be allowed to retain by their current franchise, will go under the hammer. Each franchise will be allowed to retain not more than four players.
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