Two new teams have been added to the Indian Premier League (IPL). In other words, in the next edition of this franchise based league, not 8 teams, but 10 teams will play. IPL authorities announced the names of the two new teams on Monday. The two new teams are Ahmedabad and Lucknow. The total value of the two parties is 12 thousand crore rupees.
Twenty-two companies, from India’s Adani Group to Manchester United’s owner Glazer’s family, took part in the auction to buy ownership of the two teams. But in the end, the RPSG group and the international company CVC Capitals won the auction.
The RPSG Group spent Rs 6,090 crore to acquire ownership of Lucknow. RPSG group owner Sanjeev Goenka previously owned former IPL team Rising Pune Supergiant. The team played in 2016 and 2017 and also reached the final in the second edition.
On the other hand, CVC Capitals got ownership of Ahmedabad for Rs 5,625 crore. The base price of these two groups was Rs 2,000 crore.
The IPL started in 2008 with the participation of eight teams. However, the 2011 event was with 10 teams. But over the next two years the number of teams dropped to 9. The subsequent sessions were for 6 teams. However, 10 teams will be seen from the next event.