New IPL Teams in IPL 2022: RPSG Group of Sanjiv Goenka and CVC Capital, an international investment firm, have bagged the two new IPL teams.
CVC Capital will own the Ahmedabad-based team while RP Sanjiv Goenka Group will own the Lucknow-based IPL team in the IPL 2022 tournament.
Sanjiv Goenka and CVC Capital have won the bidding war among nearly 10 competitors which was hosted by BCCI in Dubai on October 25, 2021. The BCCI gets a whooping 12,690cr (1.7 Billion dollars) from the sale of 2 New IPL Teams.
The RPSG bid was 250% more than BCCI’s base price of INR 2000 Crores. The corresponding figure for CVC Capitals was 160% more than BCCI’s base price for the IPL team.
The new two teams will participate in the upcoming IPL 2022 mega auction to build their teams which will get part in the IPL 2022 tournament. BCCI also announced the IPL 2022 Auction rules based on which the teams will retain, release players ahead of the IPL 2022 auction.
BCCI decides to host the IPL 2022 auction in December 2021 probably in India rather than in Dubai. But the official announcement has not yet been released by the governing body.
2 New IPL Teams Name
Ahmedabad and Lucknow are the two new IPL teams yet to join the Indian Premier League family in the upcoming IPL 2022 tournament. What will be the names of the new 2 IPL teams? Will update once officially announced!!
- KL Rahul is likely to lead the Lucknow team in IPL 2022.
- Lucknow IPL franchise has approached Ashish Nehra and Gary Kirsten to be its head coach and consultant for the 2022 season.
- Ravi Shastri, Bharat Arun, and R Sridhar are likely to be in the coaching staff of the Ahmedabad franchise in IPL 2022.
- BCCI & CVC Capital have resolved all issues. After several hours of discussion, BCCI has deemed CVC Capital ‘fit & proper’ to own an IPL franchise. CVC just signed a Letter of Intent (LOI) with BCCI to own the Ahmedabad franchise.
- CVC Capital who purchased one of the IPL teams are in trouble as BCCI has come to know, they’ve invested in betting companies. As Gambling and betting are banned according to Indian laws, the legalization of the new team gets in trouble.
|Lucknow||RPSG Group of Sanjiv Goenka|
7090 crore (over 932 million USD)
5625 crores crore (over 692 million USD)
2 New IPL Teams Owner
CVC Capital is the owner of Ahmedabad while RP Sanjiv Goenka Group will own the Lucknow-based IPL team in the IPL 2022 tournament.
- The exact winning bid for the new two IPL teams are:
- RP – Sanjiv Goenka Group – 7090cr(over 932 million USD) for Lucknow team
- CVC Capital – 5625(over 692 million USD) for Ahmedabad team.
RPSG owner said, “It is good be back in the IPL and I am delighted. We now have to build a good team and perform”.
Who is Sanjiv Goenka?
RP – Sanjiv Goenka Group with a US $6 billion asset base and US $4 billion revenue is one of India’s fastest-growing conglomerates with a significant global presence.
The Group’s businesses include power and energy, carbon black manufacturing, retail, IT-enabled services, FMCG, media and entertainment, and agriculture.
The group has a revenue of ₹26,900 crores (US$3.6 billion) in 2020 with a total assets value of ₹47,405 crores (US$6.3 billion). The Group has over 50,000 employees and over a hundred thousand shareholders.
Sanjiv Goenka was a former President of the Confederation of Indian Industries (CII) as well as the All India Management Institute (AIMA), and a member of the Prime Minister’s Council on Trade & Industry.
He is also the current Chairman of the Board of Directors of Woodlands Medical Centre Ltd, Kolkata. Born in 1961, Sanjiv Goenka is currently the Honorary Consul of Canada in Kolkata.
In April 2001, he took over as the youngest-ever President of the Confederation of Indian Industry (CII), was appointed Chairman of the Board of Governors of the Indian Institute of Technology, Kharagpur (IIT-KGP), and currently serves on the board of the Indian Institute of Management, Kolkata (IIM-Kolkata).
Who is CVC Capital?
Established in 1981, CVC is a world leader in private equity and credit with $125 billion of assets under management, $165 billion of funds committed, and a global network of 25 local offices: 16 across Europe and the Americas and nine in Asia Pacific region.
CVC is majority-owned by its employees and led by its Managing Partners. In addition to its private equity business, CVC also has a credit platform, CVC Credit Partners, which has about $29 billion in assets under management.
Live Auction Updates
- Adani Group put on bid till 5,000cr, Manchester United owners didn’t close the 5,000cr mark
- Manchester United owners bid has been technically approved.
- The final stage of bidding is underway, with 9 bidders in the financial bidding.
- “Reports trickling in of Rhiti Sports” bid for the new IPL teams disqualified from the auction.”
- Adani Group and Manchester United owners are likely to get two new IPL teams.
- The owners of Manchester United are front-runners to get an IPL team in next season.
- Manchester United owners are one of the ones who submitted the highest bid for an IPL team.
- 17 to 18 Parties have submitted Tender for the new IPL team in the next year 2022:
- Sanjeev Kumar – RPSG.
- Glazer Family – Manchester United Owners.
- Naveen Jindal – Jindal Power & Steel.
- Adani Group
- Torrent Pharma
- Ronnie Screwvala
- Aurobindo Pharma
- Kotak Group
- Bollywood superstar couple Deepika Padukone & Ranveer Singh are set to bid for the two new IPL teams for the 2022 season.
2 New Teams Venue – IPL 2022
As expected Ahmedabad will have Narendra Modi Stadium as their home ground which has a seating capacity of 1,12,650 along with hospitality for around 6000 persons.
While Lucknow will have Bharat Ratna Shri Atal Bihari Vajpayee Ekana Cricket Stadium as their home ground which has a seating capacity of around 48,000 with a hospitality facility for around 1000 persons.
Live Auction Updates
- “Adani Group Favourites for Ahmedabad As the Home Venue.” – According to a report.
- City names and their Home venues for the two new IPL teams in IPL 2022.