BCCI announced the addition of two new franchises Lucknow and Ahmedabad to the Indian Premier League (IPL). RPSG Ventures Ltd. won the ownership rights for Lucknow and Irelia Company Pte. Ltd.(CVC Capital Partners) won the rights for Ahmedabad at the end of the bidding process held at Taj Dubai today.
? NEWS ?: BCCI announces the successful bidders for two new Indian Premier League Franchises
— BCCI (@BCCI) October 25, 2021
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BCCI said that the new franchises will participate in IPL 2022 provided the bidders complete the post-bid formalities mentioned in the ITT document. It also stated that IPL 2022 season will consist of ten teams with 74 matches to be played and that each team will play 7 home and 7 away matches.
RPSG Ventures Ltd. won the Lucknow bid for INR 7090 crores, while CVC Capital Partners’ bid for Ahmedabad was INR 5625 crores. 10 parties entered the bidding process for the formation of two franchises at Taj Dubai. The list of bidders for the purchase of new teams included the owners of Premier League club Manchester United and the Adani Group. Among the centres shortlisted were – Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore.
BCCI President Sourav Ganguly said, “The BCCI is happy to welcome two new teams from the next season of the Indian Premier League. I would like to congratulate RPSG Ventures Ltd. & Irelia Company Pte Ltd for being the successful bidders. The IPL will now go to two new cities in India viz in Lucknow and Ahmedabad. It is heartening to see the inclusion of two new teams at such a high valuation, and it reiterates the cricketing and financial strength of our cricket ecosystem..”
Honorary Secretary of BCCI Jay Shah also welcomed the new teams and said, “It is a momentous day for all of us and I formally welcome RPSG Ventures Ltd. and Irelia Company Pte Ltd. into the IPL fold. We had promised that IPL will be bigger and better from the 15th season and with Lucknow and Ahmedabad, we will take the league to different parts of India.”
