Indian Premier League (IPL) witnessed an intense bidding race for the two new teams that are going to be added from next season. RP-Sanjiv Goenka Group and CVC Capital are the two companies that have acquired the rights of the new franchises.
RP-Sanjiv Goenka Group placed a whopping bid of Rs 7,090 crores while CVC Capital placed the second-highest bid of Rs.5166 crore. RPSG Group will now be the proud owners of the Lucknow franchise while CVC Capital will be owning the Ahmedabad franchise. These are the two highest bids placed for any IPL team.
These two new teams will join the eight other teams of IPL from next season. Big Players like the Adani Group, The Glazer family (Owners of Manchester United), Aurobindo Pharma, and Torrent Group failed to cross the 5000 crore bidding mark and lost the opportunity of owning a franchise.
RPSG earlier owned the team Rising Pune Super Giants in the 2016 and 2017 seasons, when Chennai Super Kings and Rajasthan Royals were suspended.
According to the reports, the highest bidder gets a chance to choose their franchise’s city. Apparently, RPSG Group chose Lucknow and CVC opted for Ahmedabad.
The mega auction for IPL 2022 will be held either in January or February next year. All 10 teams will play a total of 74 matches in the league stage. More details about the auction process and the league matches will be announced in the coming days.
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