Sourav Ganguly, the Board of Control for Cricket in India (BCCI) President on Monday, said he was not surprised by the bidding numbers which the various interested parties submitted for the new franchises.
The bids were submitted by the authorized representatives of the interested parties in Dubai. BCCI announced the following successful bidders (subject to definitive documentation and other formalities being completed): RPSG Ventures Ltd. – Lucknow (for INR 7,090 crores) and Irelia Company Pte Ltd (CVC Capital Partners) – Ahmedabad (for INR 5,625 crores).
Sourav Ganguly: BCCI Isn’t Surprised By The Bidding Numbers As IPL Is A Big Brand
This deal means a huge reward for not only the Indian board but also for the development of Indian cricket at the grass-root level as well as per Sourav Ganguly. The BCCI President Sourav Ganguly said this money will be used to prosper Indian cricket, and they were not surprised because of the brand of IPL sparks in the globe.
Sourav Ganguly in a press conference after the announcement while replying to a query said: “We were not surprised actually, this (IPL) is a big brand and we are extremely happy that Indian cricket is moving forward. That is what is important for us. Congratulations to Sanjeev and CVC for being number one and number two but we look at Indian cricket and that’s what our job is. The more Indian cricket prospers, the better it is.”
“All the money goes back to Indian cricket. That’s what we are here for, we want Indian cricket to go forward and it has gone a long way forward in the last few years. This is the 14th season of IPL and the brand has grown and I think it is a great sign for us,” BCCI President Sourav Ganguly added.
Business tycoon Sanjiv Goenka and international equity investment firm Irelia Company Pte Limited (CVC Capital) shelled out a combined Rs 12,715 crore (approx $1.7 billion) to win the bids for two new IPL teams, a windfall that far exceeded BCCI’s expectations on Monday.
Brijesh Patel: Goenka Group Was Highest Bidders For Both Ahmedabad And Lucknow, And They Preferred to Take Lucknow
The BCCI was hoping for a cumulative bid in the range of Rs 10,000 crore but, to their surprise, earned Rs 7090 crore from Sanjiv Goenka’s RP-SG Group for the Lucknow franchise, while CVC capital forked out Rs 5625 crore for the Ahmedabad team. As a result, the two new sides Lucknow and Ahmedabad, will take part in the 2022 IPL.
IPL Governing Council (GC) chairman Brijesh Patel stated: “We had nine bidders, all of them were qualified. CVC group quoted 5,625 crores for Ahmedabad and 5,116 crores for Lucknow. RP Goenka ventures quoted 7,090 crores for Ahmedabad, For Indore 4,790 and for Lucknow 7,090 crores.”
“The highest was the Goenka group and they were highest for both Ahmedabad and Lucknow. And they preferred to take Lucknow as their franchise. CVC was second highest and they got Ahmedabad for 5,625 crores,” he informed.
The new franchises will participate in IPL from the 2022 season onwards, subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play seven home and seven away matches.
Sanjiv Goenka, who owned Rising Pune Supergiants for a period of two years- 2016 to 2017, when Chennai Super Kings and Rajasthan Royals were suspended owing to spot-fixing charges, was elated to be back in the IPL. Rising Pune Supergiants lost the 2017 IPL Final to Mumbai Indians by 1 run, which was the team’s last game in the IPL.
This is the first time the BCCI is adding two new franchises to the 8 teams since Pune Warriors India and Kochi Tuskers Kerala had joined the league in 2010 before both franchises were terminated.