The (nearly) billion-dollar baby of IPL
Updated On: 26 October, 2021 08:45 AM IST | Mumbai | Harit Joshi
Kolkata based RP Sanjiv Goenka Group snags Lucknow franchise for Rs 7,000 crore (USD 932 mn) and private equity firm CVC Capital wins Ahmedabad franchise with a bid of Rs 5,200 crore (USD 692 mn) as IPL expands to 10 teams
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Sanjiv Goenka
Just 24 hours ago, social media was mourning India’s crushing loss to Pakistan in the T20 World Cup at Dubai on Sunday. But come Monday evening, the netizens seemed to have quickly moved on as all talk only centered around the two new teams that will enter the Indian Premier League (IPL) next year. Despite ample controversies and COVID-forced disruptions, the cash-rich T20 league remains the top cricketing league that just gets bigger and bigger.
In one single day, the BCCI coffers got richer by a mind-boggling Rs 12, 715crore with Sanjiv Goenka-headed RPSG Ventures Ltd bidding Rs 7,090cr for the Lucknow franchisee and Irelia Company Pte Ltd. (CVC Capital Partners), who bid Rs 5,625cr to get their hands on the Ahmedabad franchisee.
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