IPL New Teams Auction Live Updates: RPSG Group gets Lucknow for Rs 7,090 crore; Ahmedabad goes to CVC Capital

“It is good be back in the IPL and I am delighted. It is an initial step. We now have to build a good team and perform,” RPSG’s Sanjiv Goenka was quoted as saying according to ESPNCricinfo

Goenka was earlier the owner of the Rising Pune Supergiant franchise, which was part of the IPL in 2016 and 2017 along with Gujarat Lions as the replacement franchises for the suspended Chennai Super Kings and Rajasthan Royals. After a poor run in 2016, RPSG managed to reach the final in 2017, where they lost to Mumbai Indians by a solitary run in Hyderabad.

Cricket economy certainly is booming at the moment

I must admit I am blown away by the size of the bids. The cricket economy just gets more buoyant and I don’t see how it can stop at 74 games a year. This is a huge vote of confidence in the Indian consumer’s willingness to watch the #IPL.– Harsha Bhogle (@bhogleharsha) October 25, 2021

Ladies and gentlemen, we have the new owners of the two franchises!

RP Sanjiv Goenka Group, which had previously owned the Rising Pune Supergiants team, have placed the highest bid of Rs 7,090 crore, with CVC Capital placing the next highest bid with Rs 5,166 crore.

According to Cricbuzz, RPSG have been awarded the Lucknow franchise while CVC Capital get Ahmedabad.

Adani Group and the Glazer Family, who were counted among the frontrunners, ultimately fail to match their bids.

This just in

IPL franchise update…RP-Sanjiv Goenka Group puts bid of around 7200 croreCVC Capital has put a bid of Rs 5,200 crore.These are the winning bids…– KSR (@KShriniwasRao) October 25, 2021

Looks like Gujarat will make a comeback to the IPL afterall!

Ahmedabad and Lucknow–the two new IPL teams??– Aakash Chopra (@cricketaakash) October 25, 2021

Looks like the BCCI is set to get richer by Rs 7,000-10,000 crore after the auction of the two new Indian Premier League franchises today.

As for the new franchise owners, it looks like a tough battle among the 10 bidders with Adani Group, RPSG Group and the Manchester United-owning Glazer family among the front-runners.

More details here

Earlier today. Official announcement should come in shortly

Bid submissions done ?Verification process underway here in Dubai ?The Big Announcement soon ? pic.twitter.com/LbXGwxnrYR— IndianPremierLeague (@IPL) October 25, 2021

Hello and welcome to our live coverage of the unveiling of the two new franchises in the Indian Premier League (IPL). The lucrative T20 tournament organised by the Board of Control for Cricket in India (BCCI) is set to expand to 10 teams next year, which will also lead to the number of matches getting increased to 74 from the current total of 60.

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