Breaking: IPL 2022 Team Auction: BCCI announced 2 new teams-Details

Indian Premier League (IPL) will have a total of ten teams from next year onward as the Sanjiv Goenka-led RPSG Group and the CVC Capital, an international investment firm, won the bids for two new IPL teams from Lucknow and Ahmedabad.

RPSG sealed Lucknow as their home base with a winning bid amount of INR 7090 crores while CVC Capital opted for Ahmedabad with an INR 5166-crore. Bid Initially, the bids were reportedly submitted with a minimum bid price of approx USD 270 million but the final purchase price was also expected to soar higher.

Present in the auction were Lancer Capital, owned by the owner of famous football club Manchester United, Avram Glazer, the Adani Group, the RPSG Group, owned by Sanjiv Goenka, and Rhiti Sports.