The Indian Premier League (IPL) from the next season will become a ten-team affair. The Board of Control for Cricket in India has named two new additions after the bids were opened in the UAE, on the sidelines of the ICC T30 World Cup 2021.
The Governing Council of the IPL had issued an Invitation to Tender (“ITT”) to acquire the right to own and operate two new franchises. As many as 22 parties had reportedly picked the bid documents, priced at ₹ 10 lakh per document. Only nine furnished bids.
The bids for the bid process announced the two new team owners. RSPG Ventures will own Lucknow franchisee, whereas CVC Capitals bagged the Ahmedabad team ownership. RPSG Ventures Ltd furnished the highest bid of ₹ 7,090 crores. Interestingly, the Goenka group had made identical ₹ 7,090 crore bids for Ahmedad and Lucknow – the highest for both the centres. Lucknow was Goenkas’ first choice.
Irelia Company Pvt Ltd, owned by CVC Capital Partners, bagged Ahmedabad for ₹ 5,625 crores. CVC Capitals were the second best bidders behind RSPG.
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BCCI President, Mr 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.”
“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,” added BCCI honorary secretary Jay Shah.
The new franchises will participate in IPL from 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches.
Adani Sportsline Private Limited (Adani Group), Amrit Lila Enterprises Pvt Ltd (Kotak), Avashya Corporation Private Limited (All Cargo Logistics), Capri Global, Championship Cricket LLC (Laxmi Capital – Avram Glazer), Hindustan Media Ventures Limited and Torrent Sports Ventures Private Limited were the other bidders.
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