IPL: RPSG & CVC Capital Win Lucknow, Ahmedabad Teams
NewsBytes
Oct 26, 2021

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Earlier the BCCI had announced that the Indian Premier League (IPL) in 2022 will have 2 more teams. 

The BCCI had earlier shortlisted six cities -- Ahmedabad, Lucknow, Cuttack, Guwahati, Ranchi and Dharamshala -- as bases for the two new teams. The bidding process for the two new teams in the IPL took place in Dubai on Monday 25th October. 9 parties bid to own the two teams. Earlier there were rumours that Ranveer Singh  & Deepika Padukone were also interested in owning an IPL team but they did not take part in the bidding process. Football club Manchester United and the Adani Group had also placed bids for the same. In the end RPSG group and international investment firm CVC Capital acquired the ownership rights of the two new IPL teams. The Sanjiv Goenka-led RPSG Group acquired the ownership of the Lucknow-based franchise. Their winning bid was of Rs. 7,090 crore. The RPSG group previously owned the Rising Pune Supergiant in 2016 and 2017. They will now have Lucknow's Bharat Ratna Shri Atal Bihari Vajpayee Stadium as their home base.

 

The second team - Ahmedabad was grabbed by CVC Capital with a bid of Rs. 5,166 crore. The Narendra Modi Stadium, will be the home for the Ahmedabad-based franchise. It is understood that the two new franchises will be allowed 'special picks'. The fee structure will be decided by the franchise and the player mutually. BCCI president Sourav Ganguly and board secretary Jay Shah welcomed the two new teams to the IPL.