It was previously announced that the cash-rich Indian Premier League(IPL) will see the addition of two new teams and bids for the same will take place. The Board of Control for Cricket in India(BCCI) set for the bidding of the two new teams that will join the IPL in 2022. It was noted that more than 20 entities had acquired the bid documents. It turns out that the couple of franchises that will be making IPL a 10-team contest are- Ahmedabad and Lucknow. The RP-Sanjiv Goenka Group have acquired Lucknow by making the highest bid of 7,090 crores while CVC Capital acquired Ahmedabad with a huge bid of Rs 5,600 crores. Jindal Steel, Torrent Pharma, Aurobindo Pharma and Manchester United owners, The Glazers were also in the race.
Ahmedabad and Lucknow join IPL
A total of 10 parties entered the fray with bids to own the two franchises on Monday (October 25) at the Taj Dubai. The bidders also got to choose from from six centres – Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore – to base their team in.
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All parties were asked to submit two envelopes – one for personal and financial credentials and the second for the bid. The Board of Control for Cricket in India (BCCI) had its legal and audit officials first check the credentials of the bidders and only after they were deemed to be in order, were the second envelopes, containing the bids, were opened.
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