Two new teams of the Indian Premier League (IPL) have been announced. RP Sanjeev Goenka Group has bought the team from Lucknow for Rs 7,090 crore. At the same time, CVC Capital has bought the team of Ahmedabad for Rs 5200 crore. BCCI has earned 12 thousand crores from both the teams, which is much more than expected.
These were also contenders
A total of 22 business houses had shown interest to buy the two teams. The bidders include Adani Group, the Glazer family, owners of English football club Manchester United, Torrent Pharma, Aurobindo Pharma, RP-Sanjeev Goenka Group, Hindustan Times Media Group, former minister Naveen Jindal’s Jindal Steel, Ronnie Screwvala and three private equity partners. people were involved. But in the end Goenka Group and CVC partner managed to win.
Indian cricket progressing
On the addition of two new teams of IPL, BCCI President Sourav Ganguly told news agency ANI- We are very happy that Indian cricket is progressing. That is what is important to us. We watch Indian cricket and that’s our job. The richer Indian cricket, the better.
Pune team has played in 2016-17
The RP-Sanjiv Goenka Group has an asset base of US$6 billion. The group is involved in the business of Energy, Carbon Black Manufacturing, Retail, IT Enabled Services, FMCG, Media & Entertainment and Agriculture. In 2016, the group bought Rising Pune Supergiants. Raghu Iyer was appointed its CEO. The team’s performance in the 2016 IPL season was poor and the team failed to make it to the playoffs. However, in the 2017 season, the team had traveled to the finals. In the 2017 IPL final, Rising Pune Supergiants were defeated by Mumbai Indians by 1 run.
At the same time, CVC Capital Partners is a private equity and investment advisory firm. It has huge investments in European and Asian markets. CVC has been interested in sports for a long time. Some time ago it bought a stake in the Spanish football league LaLiga. It has also been involved in rugby, volleyball, tennis, MotoGP and Formula One.
From next season the number of teams will be 10.
After the inclusion of these teams, the number of teams in the IPL will increase to ten from the next season. The number of matches in IPL will also increase from 60 to 74. Talking in terms of players, with the increase of two teams, at least 45 to 50 new players will get a chance to play in the IPL. Among them, there will be 30 to 35 young Indian players.
