From eight teams to now 10 – the Indian Premier League (IPL) has got two new franchises added to the cash-rich tournament – Ahmedabad and Lucknow.
The 2022 season will see two of the new franchisees take part in the league after the cities were finalized after an intense bidding process that took place in Dubai on October 25, 2021. The bidders who won were RPSG Group and CVC Capitals.
While RPSG Groups previously had a team in the league and are back again, it is all-new for CVC Capitals. The former group, in the 2016 and 2017 editions, had bought Pune city’s franchise.
Pune was added after there was a ban on Chennai Super Kings (CSK) and Rajasthan Royals (RR). Called Rising Pune Supergiant, they had even qualified for the final in 2017 but lost marginally against Mumbai Indians (MI). Now, the group will have access to the franchise based out of the city of Lucknow.
As for CVC Capitals, they bought the stakes for the city of Ahmedabad in Gujarat. The city is home to the largest cricket stadium in the world, the Narendra Modi stadium, which can hold up to 1,32,000 people.
Soon after the bidding war had come to an end, the chairman of the RPG Enterprises, Harsh Goenka revealed the bids which were made by all the business groups.
He uploaded a picture on his official Twitter handle of the final bids, which gave all an idea of what amounts all the businesses went ahead bid for. The RPSG ventures ltd. were in fact the highest bidders as they put forward an amount of INR 7090 crores for both Ahmedabad and Lucknow.
They had also bid for Indore with an amount of INR 4790 crores. Irelia Company Ptv Ltd, who bid under CVC Capital had put forward an amount of INR 5625 crores for Ahmedabad while also bidding INR 5166 for Lucknow.
The Adani group who were the frontrunners had put INR 5,1000 crores for both the cities, however, they fell short. The Glazers, owners of Premier League football club Manchester United, ended up falling short as well with their bids of slightly more than INR 4,000 crore.
SEE:
How the #IPL bids went! pic.twitter.com/nLjQb6djsB
— Harsh Goenka (@hvgoenka) October 25, 2021
As for the IPL 2022, there will be a mega auction for the new edition of the tournament and now the BCCI has said that only four players could be retained by every group, rest all players will be put out for auction.
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