IPL 2022: Two New IPL Teams: Sanjeev Goenka’s RPSG Group & former F1 promoter CVC Capitals: The two new franchises which have been added to the current 8-team IPL setup are Lucknow and Ahmedabad. Sanjeev Goenka’s RPSG Group & former F1 promoter CVC Capitals have bagged the two new IPL franchises. RPSG has got Lucknow franchise & CVC Capitals managed to bag the Ahmedabad franchise after outplaying the Adani Group. Follow InsideSport.in for more live updates
IPL New Teams announced: All you need to know about IPL new franchises Lucknow and Ahmedabad and their owners
The Lucknow Franchise: RPSG GROUP – Sanjeev Goenka: Sanjeev Goenka’s RPSG Group have picked Lucknow as their home base with a winning bid of ₹7,090 crores. The RPSG group is making a comeback in the IPL having previously owned the Rising Pune Supergiant (2016 and 2017) team. The Rising Pune Super Giants played two IPL seasons – 2016 and 2017 when Chennai Super Kings and Rajasthan Royals were banned.
The franchise has picked Lucknow’s Bharat Ratna Shri Atal Bihari Vajpayee Stadium – as their home venue. The Lucknow Stadium, formerly known as Ekana Stadium, was opened to the public only in November 2018 and has a seating capacity of around 50,000 people.
The winning bid for The Lucknow Franchise:
Lucknow Franchise – INR 7090 crores – RPSG Group
Who is Sanjeev Goenka?
Sanjiv Goenka is a Kolkata-based business tycoon who owns RP-SG Group. The group was founded by Sanjiv Goenka, the younger son of Rama Prasad Goenka, on 13 July 2011. The RP-Sanjiv Goenka Group is one of India’s fastest-growing conglomerates with a significant global presence. With a US $6 billion asset base and US $4 billion revenue, the group’s businesses include power and energy, carbon black manufacturing, retail, IT-enabled services, FMCG, media and entertainment, and agriculture.
The Ahmedabad Franchise: CVC Capital: Irelia Company Pte Ltd (CVC Capital) is one of the biggest sports investors globally that has opted for Ahmedabad as their home base with a bid of ₹5625 crores. CVC Capital were previous stakeholders in Formula 1 and recently took a minority stake in La Liga, the top-flight football league of Spain & also owns a substantial stake in World Volleyball & various other sports ventures.
Their home will be the world’s largest cricket stadium, the Narendra Modi Stadium, which has an advertised capacity of 132,000 people.
The winning bid for The Ahmedabad Franchise:
Ahmedabad Franchise – INR 5166 crores – CVC Capital
The two new franchises will now be a part of the 15th edition of the IPL which is expected to take place around March-April next year followed by a mega auction in the month of December. A total of 22 tenders were picked up for the bids and cities like Ahmedabad, Lucknow, Guwahati, Indore, Dharamsala, and Cuttack were in the fray.
Which was the last team to join IPL via tender process:
Sunrisers Hyderabad was the last team to join IPL via a tender process in 2012 and paid Rs. 850 crores.
The cost of each IPL Franchise:
Mumbai Indians – USD 111.9 million – Reliance India Limited
Royal Challengers Bangalore – USD 111.6 million – United Breweries group
Deccan Chargers Hyderabad – USD 107 million – Deccan Chronicle
Chennai Super Kings USD – 91 million – India Cements
Delhi Daredevils USD – 84 million – GMR Group
Kings XI Punjab USD – 76 million – Preity Zinta & Ness Wadia
Kolkata Knight Riders – USD 75.09 million – Shah Rukh Khan’s Red Chillies Entertainment
Rajasthan Royals USD – 67 million – Emerging Media
Pune Warriors India – USD 370 million – Sahara India Pariwar
Kochie Tuskers – USD 333.2 million – Rendezvous Sports World
The Lucknow Franchise – USD 950 million – RPSG Group
The Ahmedabad Franchise – USD 710 million – CVC Capitals
Cost of IPL teams (in million USD)
— Deepu Narayanan (@deeputalks) October 25, 2021
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