Two New IPL Teams Are Lucknow And Ahmedabad

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IPL new teams
IPL new teams

Dubai :- There are lots of talking about new IPL teams finally IPL 2022 going to receive two new IPL teams for 2022. There are lots of questions about these two new IPL teams are Lucknow and Ahmedabad . The Governing Council of the IPL had issued an Invitation to Tender to acquire the right to own and operate two new franchises. All the parties were asked to submit two envelopes 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 and only after they were found to be in order, the second envelopes were opened. The BCCI twice had extended its ‘Invitation to Tender’ and had extended the deadline till October 20, so that Manchester United could take part in the bidding process.

Q.1 First Which are these two team names ?

Answer – Two new IPL team names are Lucknow and Ahmedabad.

Q.2 Who are the owners of these two teams ?

Answer – RPSG Ventures Ltd. has bagged ownership rights of Lucknow and Irelia Company Pte Ltd. (CVC Capital partner) which is a Private equity firm has bought ownership rights of Ahmedabad team.

Q.3 How much money has paid for these two new IPL teams ?

Answer- RPSG Venture has bagged the ownership rights of the Lucknow franchise for Rs 7,090 crore while private equity firm Irelia Company Pte Ltd. (CVC Capital Partners) has bought the Ahmedabad team for Rs 5,625 crore.

Q.4 What is the base price set for these teams ?

Answer- The base price for these teams was set at Rs 2000 crore.

BCCI president 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 IPL’s motto of ‘Where Talent Meets Opportunity’, the inclusion of two new teams will bring more domestic cricketers from our country to the global stage. The IPL is proving to be a wonderful instrument in globalising the game of cricket. I am keenly looking forward to IPL 2022.”

Jay Shah 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.”

Mr Brijesh Patel IPL Chairman, 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.

Mr Arun Singh Dhuman BCCI Treasurer Said: The fact that winning bids were way above the base price set for the two new IPL franchises is a direct indication of the true value of the Indian Premier League. We received tremendous interest after the ITT was floated with many conglomerates putting their hat into the ring. I congratulate RPSG Ventures Ltd. and Irelia Company Pte Ltd. for placing the highest bids and winning the rights to own the IPL teams. I also thank all the bidders for showing faith in the BCCI and IPL. This is the start of an exciting chapter, and I can’t wait for the big auction to see how the new teams shape up.

In the end finally we have two new IPL teams are Lucknow and Ahmedabad officially declared.

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