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IPL 2022 Gets 2 New Teams: RPSG Group, Manchester United Win Bids To Own New Teams

According to reports, the BCCI has rejected Arun Pandey's bid as he arrived late to bid and missed out on bidding. He had come to bid for Rhiti Sports.

IPL 2022 Gets 2 New Teams: RPSG Group, Manchester United Win Bids To Own New Teams

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 Oct 2021 2:49 PM GMT

NEW DELHI: The Board of Control for Cricket in India (BCCI) announced two new teams - Ahmedabad and Lucknow - for the Indian Premier League (IPL).

Notably, with some intense bidding in Dubai on Monday, the RP-Sanjiv Goenka Group got the Lucknow outfit for a record Rs 7090 crore bid, while CVC Capital bagged Ahmedabad for Rs 5625 crore.

Owned by Sanjiv Goenka, the RPSG group - which also owns ISL side ATK-Mohun Bagan - came up with a bid of Rs. 7000 crore - the highest among the ten bidders.

RPSG Group and Manchester United, backed by venture capitalists CVC, paid Rs 7000 crores and Rs 5600 crores, respectively, as license fees to own the teams for a 10-year period.

A total of 22 companies had bought the tender documents for Rs 10 lakh, but with the base price for the new teams has been pegged at Rs 2,000 crore, there were only 10 bids.

Reportedly, more than 20 companies have submitted their tenders. At the same time, 10 parties have bidded so far of which Adani Group and Goenka Group are ahead in the race.

The Glazer Family, the owner of the football club Manchester United, is also in Dubai. According to media reports, more parties have bidded for the team of Ahmedabad, Lucknow and Cuttack.

In the bidding process in Dubai, 10 parties have bidded. All the documents have been submitted and they are being checked. After this, the pamphlets of the eligible parties will be opened and the winning parties will be given the ownership of two new IPL teams.


Also Read: IPL 2022: All Bids Submitted And Verification Process Underway, Team Guwahati Likely To Be Announced

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