Two new IPL teams, Lucknow and Ahmedabad, bought for more than Rs. 12,000 crore

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The Indian cricket board has added two new IPL teams after Lucknow and Ahmedabad were sold for more than Rs. 12,000 crores.

IPL teams

 

Quoting BCCI sources, news agency PTI reported that private equity firm CVC Capital had clinched the Ahmedabad franchise with over Rs 5,000 crore bid.

According to the news agency, Sanjiv Goenka-owned RPSG group claimed Lucknow franchise with over Rs 7,000 crore bid.

Sanjiv Goenka, who previously owned the Rising Pune Supergiant told the Cricbuzz website, “A lot of planning and calculation has gone into our bidding. I give credit to personal staff for winning the bid.”

Ten stakeholders including Adani Group and Manchester United were among those bidding for new teams from Lucknow, Ahmedabad, Cuttack, Dharamsala, Guwahati and Indore.

The Indian Premier League currently has eight teams. Chennai Super Kings had defeated Kolkata Knight Riders to win this year’s IPL in the UAE.