Two New IPL Teams Announced: Sanjiv Goenka-Owned RPSG Claims Lucknow, CVC Capital Partners Get Ahmedabad

IPL New Teams Bidding: CVC Capital clinches second franchise with over Rs 5,000 crore bid and RPSG group claims Lucknow franchise with over Rs 7,000 crore bid.

New Delhi: The addition of two new teams to the Indian Premier League (IPL) has been announced. Billionaire RP-Sanjiv Goenka Group, commonly known as RPSG Group has won the bid for Lucknow franchise, while CVC Capital Partners group, a private equity and investment advisory firm gets Ahmedabad. The cash-rich tournament, which so far has eight teams participating in the tournament, will become a 10-team affair. The number of matches in the IPL will also increase next year. A total of 74 matches can be held in IPL 2022 edition, wherein each team will play 7 home and 7 away matches. 

As per a media release by BCCI, CVC Capital clinches second franchise with INR 5625 crores bid and RPSG group claims Lucknow franchise with INR 7090 crores bid.

Ahmedabad and Lucknow to be the two new teams at Indian Premier League (IPL). CVC Capital Partners gets Ahmedabad while RPSG Group gets Lucknow. pic.twitter.com/0zmQS7nQEb

— ANI (@ANI) October 25, 2021

We're extremely happy that Indian cricket is growing forward. That is what is important for us. We look at Indian cricket and that's what our job is. The more Indian cricket prosperous, the better it is: BCCI President Sourav Ganguly on the addition of two new IPL teams pic.twitter.com/paRpwaQi7y

— ANI (@ANI) October 25, 2021

Since the start of the auction process, each franchise reportedly got Rs 7000 crore to Rs 10,000 crore. 22 companies had taken tender documents worth Rs 10 lakh. The base price for the new teams was reportedly kept at Rs 2000 crore. India's richest business tycoon, Gautam Adani's Adani Group and football club Manchester United had reportedly made some serious bids for a new franchise. Business houses such as Kotak Group, Aurobindo Pharma, Torrent Pharma, Birla Group, had also shown interest in joining the cricketing gala.

It is believed that Indore, Guwahati, Cuttack, Dharamsala and Pune were also in the race for the new team spots in IPL 2022. Possibly the main reason why Lucknow and Ahmedabad won is their stadium has a world-class facility. 

BCCI is estimated to have a profit of around Rs 5,000 crore with two new teams joining the IPL.