BCCI announces two new IPL teams — Check out the owners of Lucknow and Ahmedabad franchises

Oct 25, 2021

By: Vaamanaa Sethi

Board of Control for Cricket in India (BCCI) has announced two new teams Lucknow and Ahmedabad,...

...which will be joining the Indian Premier League (IPL) from next year onwards.

Credit: BCCI

CVC Capital Partners has won the bid for team Ahmedabad for ₹5625 crore.

Credit: CVC

Sanjiv Goenka’s RPSG Ventures will be owning the Lucknow team,...

...which it won for ₹7090 crore, BCCI announced on Monday.

Credit: RPSG

Ahmedabad, Lucknow, Indore, Guwahati, Pune, Dharamshala, Cuttack were the six cities in the fray.

Credit: BCCL

According to the media reports, 22 firms had picked up tender documents starting from ₹10 lakh.

Credit: BCCL

However, the base price per team was pegged at ₹2000 crore.

Credit: BCCL

Adani Group, RPSG Group, Glazer brothers (Owner of Manchester United), and Naveen Jindal...

...were the top picks by the board for the bid document.

Credit: BCCL

BCCI is reportedly expected to earn around ₹5,000 crore-₹7,000 crore from the sale of these two new teams.

Credit: BCCL

In addition, BCCI is also expected to earn around ₹450 crore from its share of broadcasting...

...and sponsorship revenues in the upcoming season of the IPL.

Credit: BCCL

The IPL 2022 season will comprise 10 teams and will have 74 matches,...

...wherein each team will play 7 home and 7 away matches.

Credit: BCCL

Star Health IPO is asking for five times the price that Rakesh Jhunjhunwala paid in 2018