Two new IPL teams confirmed, RPSG & CVC Capital win the bidding process

The bidding process for 2 new IPL teams finally ended Monday night and Sanjiv Goenka-owned RPSG group claimed the Lucknow franchise with a bid of ₹7090 crore. CVC Capital, an international investment firm, bagged the Ahmedabad franchise with a bid of ₹5625 crore as per BCCI's annoucement.

Both parties put Ahmedabad & Lucknow as their priorities but RP-SG got first choice as they were the highest bidder. The bidding process happened in Dubai and 22 companies picked up tender document worth ₹10 lakh. But with base price for new teams pegged at ₹2,000 crore, there were only ten serious bidders in fray & 9 eventually qualified on technical grounds.

Speaking about the development, BCCI president Sourav Ganguly said that they are extremely happy that Indian cricket is growing forward.

Disclaimer: Editorji is part of RP-Sanjeev Goenka Group

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