Two new IPL teams were unveiled on Monday, with Kolkata businessman Sanjiv Goenka’s RP-SG Group scooping up the Lucknow franchise for a whopping Rs 7090 crore and international equity investment firm CVC Capital snatching up Ahmedabad for an eye-popping Rs 5600 crore. The BCCI expected a windfall of around Rs 10,000 crore from the two new teams that will participate in the 2022 IPL, but they earned Rs 12,690 crore instead.
It’s still unclear if the BCCI will announce the winning bidders on Monday after they’ve completed their technical evaluation of the bids. While 22 companies have obtained tender documents worth Rs 10 lakh, with a starting price of INR 2000 crore for new teams, only five to six serious bidders are expected to enter the race. The BCCI will also accept bids from a consortium made up of three companies or individuals. If it is a company, the minimum annual turnover should be INR 3000 crore. If it is a consortium, the annual turnover should be INR 2500 crore for each of the three companies. One of India’s wealthiest businessmen and his Adani Group are expected to bid on the Ahmedabad franchise in this scenario.
Gautam Adani The Adani Group is the front-runner to acquire a new franchise if they decide to make a bid. ATK Mohun Bagan is Goenka’s other ISL franchise. He previously owned the RPS franchise in Pune for two years. According to rumours, Manchester United owner Avram Glazer’s Lancer group has also taken the bid document. Along with Kotak and Torrent, other notable contenders include Aurobindo Pharma and Torrent Group, both of which are pharmaceutical companies. The stadium capacity favourites are Narendra Modi Stadium in Motera, which has a capacity of more than 100,000, and Ekana Stadium in Lucknow, which has a capacity of 70,000. Indore, Guwahati, Cuttack, Dharamsala, and Pune are the other cities under investigation.