RPSG and CVC Capital have won bids for the IPL teams in Lucknow and Ahmedabad
The lucrative Indian Premier League (IPL) will have a total of ten teams starting next year after the Sanjiv Goenka-led RPSG Group and CVC Capital, an international investment firm, won the bids for two new IPL clubs from Lucknow and Ahmedabad, respectively.
With a winning bid of INR 7090 crores, RPSG secured Lucknow as their home base, while CVC Capital chose Ahmedabad with a bid of INR 5166 crores.
The bids were said to have been submitted with a minimum offer price of around USD 270 million, but the final acquisition price was likely to be much higher.
Lancer Capital, owned by Avram Glazer, the owner of Manchester United, the Adani Group, the RPSG Group, headed by Sanjiv Goenka, and Rhiti Sports were all present at the auction.
According to Cricbuzz, Rhiti submitted a bid for Cuttack after being elevated by MS Dhoni’s manager Arun Pandey. Their submission was not accepted, however, because they were late to the venue.
Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati, and Indore were among the six cities for which bids were filed.