Announcement Of New IPL Teams

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Announcement Of New IPL Teams
26 Oct 2021
6 min read

News Synopsis

The IPL is entering a new era with the inclusion of two extra clubs, making the event a 10-team affair starting in the 2022 season. The Board of Control for Cricket in India announced on Monday that the two new IPL franchises will be situated in Ahmedabad and Lucknow. Sourav Ganguly, president of the BCCI, and Jay Shah, board secretary, welcomed the two new clubs to the IPL. The BCCI has already nominated six towns as potential sites for the two new teams: Ahmedabad, Lucknow, Cuttack, Guwahati, Ranchi, and Dharamshala.

The Ahmedabad franchise was awarded to CVC Capital Partners, Private Equity and Investment Advising Business, while the Lucknow franchise was awarded to the RPSG Group, an Indian conglomerate. According to the BCCI, RPSG Group's winning proposal was Rs. 7090 crores, while CVC Capital's bid was Rs. 5625 crores. On Monday, the IPL held a bidding procedure for the two new clubs, with the two highest bidders gaining the franchise rights. With the addition of Ahmedabad and Lucknow, the IPL will be a 10-team league starting next year.

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