The Board of Control for Cricket in India (BCCI) has just announced the 2 new IPL teams and their owners. New teams will be a part of the Indian Premier League (IPL) from the 2022 season.
Ahmedabad and Lucknow, the two cities have emerged as the newest venue for the additional two teams, who were the front runners until now.
RPSG Group owned by business tycoon Sanjiv Goenka and private equity player CVC Capital have won the bids for new IPL teams.
Big companies from different countries participated in the highly anticipated bidding.
The bidding took place in Dubai in the presence of BCCI officials, including BCCI President Sourav Ganguly and BCCI Secretary Jay Shah. The official and final bids of 10 companies were submitted in the afternoon. The owners of Football Club Manchester United and The Adani Group were also in the race to buy the new teams, but RPSG Group of Sanjiv Goenka and CVC Capital placed the highest bid of Rs 7090 crores and Rs 5166 crores, respectively and won their bids for Ahmedabad and Lucknow based new IPL teams.
BCCI had set 2,000 crores as the base price for the bidding for the new teams. Companies across the world were allowed to own a team in IPL. Companies with a minimum of Rs 3,000 crores per year revenue were allowed to participate in the bidding.
Currently, there are a total of 8 teams in Indian Premier League (IPL), which includes Chennai Super Kings (CSK), Delhi Capitals (DC), Kolkata Knight Riders (KKR), Mumbai Indians (MI), Punjab Kings (PBKS), Rajasthan Royals (RR), Royal Challengers Bangalore (RCB), and SunRisers Hyderabad (SRH). The names of the new teams have not been announced yet.
BCCI have already announced that there will be a mega auction before the new season, which will allow more players to appear in the auction. Other 8 teams can retain only three players of their choice.