RPSG and CVC Capital Win Bids for Lucknow and Ahmedabad IPL Teams
Kolkata-based industrial Sanjeev Goenka’s RP-SG group bought the Lucknow franchise from the Indian Premier League on Monday for Rs.7.09 billion, while international equity investment firm CVC Capital won the Ahmedabad franchise with an offer of Rs 5.6 billion.
The Cricket Board of India (BCCI) was expected to get around Rs 10 thousand crore from the two new teams that participated in the IPL from 2022, but it earned Rs 12,690 crore. PTI had said in its news Sunday that Goenka is one of the strong contenders to buy the franchise. Prior to this, he owned Rising Pune Supergiants on the IPL for two years, 2016 and 2017.
A BCCI senior source in Dubai told PTI on condition of anonymity: “Yes, RPSG made the highest offer of Rs 7090 crore, while CVC made the second highest offer of Rs 5600 crore. There will be a profit of around one thousand. million 700 million dollars. “
Big companies that have lost in the race to buy the franchise include Gautam Adani’s Adani Group, which had made an offer of around 5 billion rupees. Bids from Glaser and Manchester United-owned Torrent Group also did not feature in the top two bids. 22 companies had bought the bidding document for Rs 10 lakh but with the new equipment’s base price of Rs 2,000 crore, only five or six serious contenders were in the running.
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