Monday, October 25, 2021

IPL New Teams Auction Live Updates: RPSG Group gets Lucknow for Rs 7,090 crore; Ahmedabad goes to CVC Capital

19:44 (IST)

Cricket economy certainly is booming at the moment

19:37 (IST)

Ladies and gentlemen, we have the new owners of the two franchises!

RP Sanjiv Goenka Group, which had previously owned the Rising Pune Supergiants team, have placed the highest bid of Rs 7,090 crore, with CVC Capital placing the next highest bid with Rs 5,166 crore.

According to Cricbuzz, RPSG have been awarded the Lucknow franchise while CVC Capital get Ahmedabad.

Adani Group and the Glazer Family, who were counted among the frontrunners, ultimately fail to match their bids.

19:27 (IST)

This just in

19:24 (IST)

Looks like Gujarat will make a comeback to the IPL afterall!
 

19:23 (IST)

Looks like the BCCI is set to get richer by Rs 7,000-10,000 crore after the auction of the two new Indian Premier League franchises today.

As for the new franchise owners, it looks like a tough battle among the 10 bidders with Adani Group, RPSG Group and the Manchester United-owning Glazer family among the front-runners.

More details here

19:16 (IST)

Earlier today. Official announcement should come in shortly

19:06 (IST)

Hello and welcome to our live coverage of the unveiling of the two new franchises in the Indian Premier League (IPL). The lucrative T20 tournament organised by the Board of Control for Cricket in India (BCCI) is set to expand to 10 teams next year, which will also lead to the number of matches getting increased to 74 from the current total of 60.

The addition of two new teams also expands the IPL next year in terms of number of matches. As many as 74 games will be held next year, a sizeable increase from the 60 matches (56 league and four playoff matches) that were held this year.

As many as 10 parties, including the Glazer family that owns Premier League giants Manchester United and NFL's Tampa Bay Buccaneers, had arrived for the bidding process in Dubai for the two new teams.

The Adani Group and the Sanjiv Goenka-owned RPSG Group were also present at the auction.

Ahmedabad, Lucknow, Guwahati, Cuttack, Dharamsala and Indore were the six cities that were presented as options for the two new franchises.

"The stage is set! Bidding for the 2 new IPL teams to commence shortly!" the BCCI had earlier tweeted.

Earlier in the day, the owners of Manchester United — the Glazer family also reached UAE to try and ensure they get to own one team in the cash-rich league.

Speaking to ANI, sources in the know of developments confirmed the presence of the Manchester United owners in the UAE for the big day.

"Yes, they are here. We will know by afternoon on which two cities have teams and who are the owners," said the source.

Earlier in the day, the owners of Manchester United – the Glazer family also reached UAE to try and ensure they get to own one team in the cash-rich league. Image Courtesy: Twitter @BCCI

Manchester United owners showing interest to be a part of the IPL might be one of the reasons why the BCCI on 21 September informed they have decided to extend the date for purchasing the Invitation to Tender (ITT) for the right to own and operate one of two proposed new IPL teams document till 10 October from the initial deadline of 5 October.

Earlier, speaking to ANI, sources in the know confirmed the interest shown by Manchester United owners."Well yes, it is true that they have shown interest and that may be one of the reasons why the dateline was extended by the BCCI. IPL is not just restricted to India, it is a global entity now," the source said.

The Governing Council of the IPL had issued the 'Invitation to Tender' ("ITT") document available on payment of the non-refundable tender fees on 31 August.

With inputs from ANI



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