control board for Cricket In India (BCCI) finalized two new Indian Premier League (IPL) Franchisees – Lucknow and Ahmedabad – at Dubai on Monday after the final bids are submitted by the authorized representatives of the interested parties. The new franchises will participate in the IPL from the 2022 season, provided the bidders fulfill the post-bid formalities specified in the ITT document.
The Cricket Board of India announced the following successful bidders (subject to completion of certain documents and other formalities):
RPSG Ventures Limited – Lucknow (INR 7,090 Crore)
Irelia Company Pte Ltd (CVC Capital Partners) – Ahmedabad (for INR 5,625 Crore).
Addressing a press conference on Monday, BCCI President Sourav Ganguly said that he is not surprised by the bid numbers submitted by various interested parties.
Read also | RP-Sanjiv Goenka Group and CVC Capital win bids for Lucknow, Ahmedabad IPL teams
“We are not really surprised, it (IPL) is a big brand and we are extremely happy that Indian cricket is growing. That is what is important to us. Congrats to Sanjeev and CVC for being number one and number two but we look at Indian cricket and that’s our job. The more Indian cricket prosper, the better it will be,” Ganguly said.
“All the money goes back to Indian cricket. We are here because we want Indian cricket to grow and it has grown a lot in a few years. This is the 14th season of IPL and the brand has grown and I think it is a good sign for us.
15th The edition of IPL will now have ten teams and around 74 matches will be played. Each team will play seven home and as many away matches.
IPL Governing Council (GC) chairman Brijesh Patel said: “We had nine bidders, all of them qualified. CVC Group bid for Rs 5,625 crore for Ahmedabad and Rs 5,116 crore for Lucknow. RP Goenka Ventures bid for Rs 7,090 crore for Ahmedabad, Rs 4,790 for Indore and Rs 7,090 crore for Lucknow.
“The highest was the Goenka group and they were the highest for both Ahmedabad and Lucknow. And he preferred to take Lucknow as his franchise. CVC was at number two and they got Ahmedabad for 5,625 crores.
(with agency input)
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