BCCI announces two new IPL teams; CVC, RPSG acquires Ahmedabad, Lucknow IPL teams

The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches.

BCCI announces two new IPL teams; CVC, RPSG acquires Ahmedabad, Lucknow IPL teams
BCCI announces two new IPL teams; CVC, RPSG acquires Ahmedabad, Lucknow IPL teams
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The Board of Control for Cricket in India (BCCI) have announced Ahmedabad and Lucknow as the two new teams for the Indian Premier League (IPL) on Monday. The two new IPL franchises will be joining from the Indian Premier League 2022 (IPL 2022), subject to the bidders completing the post-bid formalities as specified in the ITT document. 

The RP-Sanjiv Goenka Group and Irelia Company Pte Ltd. (CVC Capital Partners) won the ownership rights of the Lucknow and Ahmedabad franchise respectively. The Goenka Group bagged the Lucknow team for Rs 7,090 crores, while CVC got hold of the Ahmedabad franchise for Rs 5,166 crores.

The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches.

Six cities were shortlisted to have their own teams which included the likes of Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore. There were nine bidders including two from foreign countries. Manchester United owners Glazer Family, the Adani Group, Torrent Pharmaceuticals, Hindustan Media Ventures Pvt Ltd also submitted the bid for the two new IPL teams.

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. True to IPL’s motto of ‘Where Talent Meets Opportunity’, the inclusion of two new teams will bring more domestic cricketers from our country to the global stage. The ITT process included two interested bidders from outside of India, which strongly emphasises the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalising the game of cricket. I am keenly looking forward to IPL 2022.”

Jay Shah, BCCI Honorary Secretary 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. The IPL has established gold standards for leagues across the world and remains a premium event on the sporting calendar as it has grown rapidly in a short span. Despite numerous challenges posed by COVID-19, the 13th and 14th seasons were completed, and the bids prove that interested parties have faith in BCCI and its hosting capabilities. I am thrilled for the people of Uttar Pradesh and Gujarat as the long wait is over and they will now have their own IPL team. My best wishes to the two new teams.”

Brijesh Patel, IPL Chairman said, “The level of interest among the interested parties prove that IPL is among the most sought-after sporting leagues in the world. We had bids from different parts of the world and from parties with diverse portfolios wanting to make a foray into the world of sports. I extend my heartiest congratulations to RPSG Ventures Ltd. and Irelia Company Pte Ltd. for securing the rights to operate the two teams. We had a wonderful 14th season and the 2022 season will see a new beginning.”

Arun Singh Dhumal, BCCI Treasurer BCCI said, “The fact that winning bids were way above the base price set for the two new IPL franchises is a direct indication of the true value of the Indian Premier League. We received tremendous interest after the ITT was floated with many conglomerates putting their hat into the ring. I congratulate RPSG Ventures Ltd. and Irelia Company Pte Ltd. for placing the highest bids and winning the rights to own the IPL teams. I also thank all the bidders for showing faith in the BCCI and IPL. This is the start of an exciting chapter, and I can’t wait for the big auction to see how the new teams shape up.”