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IPL New Teams: RPSG, CVC Capital win bids for Lucknow & Ahmedabad

October 25, 2021October 26, 2021 Team MVR

RP-Sanjiv Goenka Group and CVC Capital will be the owners of the two new IPL franchises that join the league from next season onwards. Lucknow and Ahmedabad will be the home base for the new teams that will take the number of teams in the IPL to ten.

Kolkata-based business tycoon Sanjiv Goenka’s RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer as the eagerly-awaited two new IPL teams were unveiled in Dubai on Monday.

How the #IPL bids went! pic.twitter.com/nLjQb6djsB

— Harsh Goenka (@hvgoenka) October 25, 2021

The BCCI was expecting a windfall in the range of Rs 10,000 crore but to their surprise, earned Rs 12,690 crore from the two new teams that will take part in the 2022 IPL.