The Indian Premier League (IPL) is now a 10-team tournament. The BCCI has officially announced the addition of two new franchises — Ahmedabad and Lucknow.
Well, on 25th October, closed bidding was held by the BCCI for the new IPL 2022 teams. Two corporate giants – RP Sanjiv Goenka Group (RPSG) and CVC Capital Partners (Irelia Company Pte Ltd) – have bid a staggering sum of money, running over 12,715 crores (approx USD 1.7 billion), to buy the two new IPL franchises.
While RPSG paid INR 7090 crore to buy the Lucknow franchise with CVC, on the other hand, CVC bought the Ahmedabad franchise for INR 5625 crore (USD 750 million approx).
Announcing the arrival of two new teams, the BCCI made an official statement, that read: “BCCI is pleased to announce the following successful bidders (subject to definitive documentation and other formalities being completed): RPSG Ventures Ltd. – Lucknow (for INR 7090 crores), Irelia Company Pte Ltd. (CVC Capital Partners) – Ahmedabad (for INR 5625 crores).”
The statement continued:
“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 of ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches.”
Meanwhile, fans on social media were left stunned by the intense bidding that took place for new IPL teams and took to Twitter to express their thoughts regarding the same. People from Ahmedabad and Uttar Pradesh were thrilled to get their own teams for the first time in IPL history and expressed their feelings on social media. There were many who came up with hilarious memes and jokes while reacting to the news.
Here, check out the reactions of Twitterati on this:
With the 2 new franchises going for huge numbers it’s now very clear the IPL is the most powerful aspect of game now .. It’s inevitable that we will see more games & longer tournaments ., #IPL
— Michael Vaughan (@MichaelVaughan) October 25, 2021
More matches, more sponsorship, bigger broadcast rights, more players required, more money for star players (economy permitting) cricket’s eco-system will evolve with addition of two new teams in #IPL. In fact IPL could become the ecosystem into which everything else fits in!
— Cricketwallah (@cricketwallah) October 25, 2021
More matches, more sponsorship, bigger broadcast rights, more players required, more money for star players (economy permitting) cricket’s eco-system will evolve with addition of two new teams in #IPL. In fact IPL could become the ecosystem into which everything else fits in!
— Cricketwallah (@cricketwallah) October 25, 2021
So, Ahmedabad and Lucknow it is. The valuation of the new teams has taken the #IPL to a whole new level. Now, the wait to understand the retention rules. I hope that allowing 5 overseas players in the XI is considered as an option for the first 3 years at least.
— Aakash Chopra (@cricketaakash) October 25, 2021
Indeed, a great day for Indian cricket because two new teams( the second one from #Ahmedabad , a special connect with that city as well!) , we will many young talents getting more chances. Congratulations @BCCI @SGanguly99 and @JayShah . https://t.co/5nw2s3j7ZQ
— R P Singh रुद्र प्रताप सिंह (@rpsingh) October 25, 2021
How the #IPL bids went! pic.twitter.com/nLjQb6djsB
— Harsh Goenka (@hvgoenka) October 25, 2021
BCCI welcoming new teams. #IPLNewTeam pic.twitter.com/cUyRytLNxN
— Rajabets India??? (@smileandraja) October 25, 2021
Lucknow team meating #IPLNewTeam pic.twitter.com/37Rra0ml74
— NIKHIL (@nikhilsmp97) October 25, 2021
Once an English man called us “Tum saala Gareeb log”
Now their reachest football club failed to win Bid for an IPL team…!
???????? pic.twitter.com/7qrfSVNCll— Rupesh Gurav (@RupeshG96982026) October 25, 2021
Steve Smith must be a very happy man with RP Sanjiv Goenka group buying one of the new IPL franchisees
He shares cordial relations with Sanjiv Goenka and also enjoyed his stint as Rising Pune Super Giants captain #Cricket#IPLAuction #IPLNewTeam pic.twitter.com/m3Ed3vSdHn
— Arnav Singh (@Arnavv43) October 25, 2021
https://twitter.com/_memeions_/status/1452661282436358151?s=20
Lucknow team jersey revealed guys ??#IPLNewTeam #IPLAuction2022 pic.twitter.com/MHzzFQJlO7
— ꜱʜᴀꜱʜɪᴋᴀɴᴛ
®?? (@shashikant931) October 25, 2021
®?? (@shashikant931) In 2021: Sanjiv Goenka group has apparently paid US$ 944 million (Rs 7090 crore) for the new Lucknow franchise.
In 2008: Rajasthan Royal had paid US$ 67 million (then Rs 321 crores)!#IPLAuction2022 #IPLAuction #iplnewteams #IPL #IPLNewTeam
— Mohandas Menon (@mohanstatsman) October 25, 2021
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
Cost of IPL teams (in million USD)
Lucknow 950
Ahmedabad 710
PWI 370
KTK 333
MI 111.9
RCB 111.6
Deccan 107
CSK 91
DC 84
SRH 79.5 (five year deal)
PBKS 76
KKR 75.1
RR 67#IPLNewTeam #Ahmedabad #Lucknow— Deepu Narayanan (@deeputalks) October 25, 2021
