Ahmedabad, Lucknow to be new IPL teams as CVC Capital, RPSG Group win bid for latest franchises for Rs 12,690 crore

Kolkata-based business tycoon Sanjiv Goenka’s RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer as the eagerly-awaited two new IPL teams were unveiled here on Monday. The BCCI was expecting a windfall in the range of Rs 10,000 crore but to their surprise, earned Rs 12,690 crore from the two new teams that will take part in the 2022 IPL.

PTI had reported on Sunday that Goenka is one of the favourites to win a team after having been in the IPL for two years in 2016 and 2017 when he owned the Rising Pune Supergiants. “Yes, RPSG had the highest bid of INR 7090 crore while CVC had the second highest bid at Rs 5600 crore. The BCCI stand to earn around USD 1.70 billion from the deal,” a senior BCCI source present in Dubai told PTI on conditions of anonymity.

One of the major companies that lost out was Gautam Adani’s Adani Group which bid around Rs 5000 crore while bids of Glazers from Manchester United and Torrent Group also fell short of the mark. Twenty two companies have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at Rs 2000 crore, only five to six serious bidders were in fray.