Former founder of the Indian Premier League Mr. Lalit Modi may have been forced to flee India after the 2010 season of the Indian Premier League, because of controversies, however, his ideas of making the Indian board — BCCI the richest cricket board has grown from strength to strength over the years. And the finest example of this fact is the addition of the two new franchises in the IPL.
Well, it has been made official by the BCCI and IPL that the cities of Ahmedabad and Lucknow will now have their own IPL teams and together these two franchises have shelled out a combined Rs 12,715 crore (approx USD 1.7 billion). Yes, you read that right.
After an intense bidding war and a lot of speculations, Business tycoon Sanjiv Goenka and international equity investment firm Irelia Company Pte Limited (CVC Capital) became the two personalities to win the bids for two new IPL teams. While the BCCI earned Rs 7090 crore from Goenka’s RP-SG Group for the Lucknow franchise, on the other hand, CVC capital won the bid for the Ahmedabad team at Rs. 5625 crore. Both the franchises will be taking part in the 2022 edition of the Indian Premier League.
Later, after the bidding, BCCI made an official announcement and stated this in a press conference: “BCCI is pleased to announce the following successful bidders (subject to definitive documentation and other formalities being completed): 1. RPSG Ventures Ltd. – Lucknow (for INR 7090 crores). 2. 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, former founder of the Indian Premier League, Lalit Modi took to his Twitter and reacted to the news. He took to his Twitter and expressed his happiness.
Here, check out the tweets:
congratulations to the new winners of two new #ipl teams. amazing new price of 7000 crores for luckhnow by #goenka group and 5600 crores for ahmedabad by #cvc capital ???
— Lalit Kumar Modi (@LalitKModi) October 25, 2021
amazing #bids for 2 new #teams for @iplt20 – #goenka group bid 7090 cr (close to a billion usd) lucknow Team and #cvccapital for 5625 crores for Ahmedabad Team. Extremely happy and Proud to have my Baby become India’s only truly Global company with Global viewership. ?????? pic.twitter.com/nsnL0jrGWw
— Lalit Kumar Modi (@LalitKModi) October 25, 2021
