Meet New IPL Team Owners CVC Capital, RPSG

26 Oct, 2021 10:41 IST|Sakshi Post

The Indian Premier League (IPL) saw an aggressive bidding war for the two additional franchises which will start in the next season. RP-Sanjiv Goenka Group and CVC Capital have bought the rights to the new franchises.

Based on reports, the highest bidder would be able to select the location of their franchise. The RP-Sanjiv Goenka Group made the highest bidding of Rs 7,090 crores, while CVC Capital came in second with a bid of Rs.5166 crore. The Lucknow franchise will now be owned by RPSG Group, while the Ahmedabad franchise will be owned by CVC Capital. These are the two biggest offers received by each IPL franchise.

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In the next season, these two new clubs will join the eight existing IPL teams. Adani Group, The Glazer family (Owners of Manchester United), Aurobindo Pharma, and Torrent Group all failed to reach the 5000 crore bidding level and hence missed out on the opportunity to purchase a franchise.

RPSG, formerly known as the Rising Pune Super Giants franchise, played during the 2016 and 2017 seasons when the Chennai Super Kings and Rajasthan Royals were banned.

The IPL 2022 super auction will take place in either January or February of next year. During the league stage, all ten clubs will play a total of 74 games. More information regarding the auction process and league matches will be released in the following days.

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