Lucknow and Ahmedabad are two new teams of IPL. The Governing Council of the IPL and BCCI have announced the new teams of IPL who will participate from next year. The bids were submitted by the authorized representatives of the interested parties at Dubai today. Here is the official tweets from BCCI:
π¨ NEWS π¨: BCCI announces the successful bidders for two new Indian Premier League Franchises
More Details π½https://t.co/FSU4LsAxzj
— BCCI (@BCCI) October 25, 2021
Two new teams with their owners are:
1. Lucknow: RPSG Ventures Ltd (for INR 7090 crores)
2. Ahmedabad: Irelia Company Pte Ltd (CVC Capital Partners) (for INR 5625 crores)
ππ―π₯ π΅π©π¦π― π΅π©π¦π³π¦ πΈπ¦π³π¦ ππΌπ€πΌ
Welcome to the show, #Lucknow and #Ahmedabad. Looking forward to πx action and thrill next #IPL π₯#Cricket #IPLNewTeam pic.twitter.com/Xw4yFq8shp
— KolkataKnightRiders (@KKRiders) October 25, 2021
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. It is likely to replicate the model used in the 2011 season which also featured 10 teams and had teams split into two loose groups. During the league phase, each team played seven home and seven away games. Each team played the other four in their group both home and away (eight matches), four of the teams in the other group once each (four matches, either home or away), and the remaining team in the other group twice both home and away. The 70 league matches were then followed by four Playoff games.
The base price for the two new teams had been set at INR 2000 crores and the two winners placed bids 350 and 250 percent more than that reserve quotation. “A lot of planning and calculation has gone into our bidding. I give credit to personal staff for winning the bid,” Sanjiv Goenka, who previously owned the Rising Pune Supergiant.
A total of nine parties entered the fray with bids to own the two franchises on today at the Taj Dubai. The bidders also got to choose from from six centres Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore to base their team in. The lowest bid was incidentally from Manchester United’s Glazers family under the Championship Cricket LLC umbrella about whom much has been written in the recent times. The Premier League club owners placed just about INR 4000 crores an extremely conservative stand considering that every other party placed much higher bids.
The biggest surprise of the day besides the staggering winning bids from the two winning parties was the failure of the Adani Group considered favourites to win the Ahmedabad franchise. They went over INR 5000 crore but nowhere near the winning bids. Capri Global, Al Cargo Logistics, HT Media, Kotak and Torrent Sports Ventures were the other parties who participated in the process which lasted for over five hours. There is no immediate information on what happened with Aurobindo Pharma whose representatives too had gone to Dubai to take part. They were eyeing without success the Lucknow team.
In all there were over 20 interested parties including companies like Rhiti Sports. But most of them are learnt to have failed to meet the qualification criteria of INR 2500 crore net worth and INR 3000 crore turnover set by the BCCI. All parties were asked to submit two envelopes is one for personal and financial credentials and the second for the bid. The Board of Control for Cricket in India (BCCI) had its legal and audit officials first check the credentials of the bidders and only after they were deemed to be in order, were the second envelopes containing the bids were opened.
Join us in welcoming the two new members of the IPL family! π€π€
ΰ²Έΰ³ΰ²΅ΰ²Ύΰ²ΰ²€, Ahmedabad and Lucknow!#PlayBold #IPL2022 #NewIPL #WelcomeToTheIPL #IPLAuction #IPLBid #NewTeams pic.twitter.com/yOlq1uKN1u
— Royal Challengers Bangalore (@RCBTweets) October 25, 2021
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 IPLβs motto of βWhere Talent Meets Opportunityβ, 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.
Mr Jay Shah, Honorary Secretary, BCCI said: 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.
Mr Brijesh Patel, Chairman, IPL said: The level of interest among the interested parties prove that IPL is among the most sought-after sporting leagues in the world. We had bids from different parts of the world and from parties with diverse portfolios wanting to make a foray into the world of sports. I extend my heartiest congratulations to RPSG Ventures Ltd. and Irelia Company Pte Ltd. for securing the rights to operate the two teams. We had a wonderful 14th season and the 2022 season will see a new beginning.
Two π teams to be a part of the #VIVOIPL family! π€
CVC Capital Partners β‘οΈ Ahmedabad
RPSG Group β‘οΈ Lucknow pic.twitter.com/vO0p5f3F4z— Punjab Kings (@PunjabKingsIPL) October 25, 2021
Anbu1β£0β£ Welcoming Ahmedabad & Lucknow to the IPL Family!
π₯³π₯³ππ#IPL2022 #WhistlePodu #Yellove π¦ pic.twitter.com/vM4BASutp3— Chennai Super Kings – Mask Pπ·du Whistle Pπ₯³du! (@ChennaiIPL) October 25, 2021
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