The two new franchises to enter IPL have been confirmed. Lucknow and Ahmedabad are the two cities that have been chosen to host the new teams. The Lucknow franchise has been purchased by Sanjeev Goenka’s RPSG group for ₹7,090 crore. The Ahmedabad team was won by CVC Capitals after bidding ₹5625.
The two new teams will be participating in the 2022 season of the IPL after their new owners complete the formalities as written in the ITT document. With ten teams next year, the IPL will consist of 74 matches. Each team will play seven home and seven away games.
“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,” BCCI President Sourav Ganguly said.
Sanjeev Goenka previously owned IPL franchise Rising Pune Supergiants, which no longer exists. After a lengthy spell away, the business tycoon is back in the Indian Premier League. CVC Capitals were previously tied up with F1 and have now extended their reach to the domestic cricket scene in India.
More details can be expected about the teams as the formalities following the bids are completed.