IPL 2022 new teams: RPSG Group and CVC Capitals win bids for two new teams in IPL 2022

IPL 2022 new teams: BCCI finally announced the two new cities and their owners to take part in the Indian Premier League 2022 season.

IPL 2022 is finally set to get underway with ten teams, and the two new teams were finally unveiled on 25th October 2021. BCCI announced the two new teams to take part next season after day-long bidding.

The bidders get to choose from six options of cities- Ahmedabad, Dharamsala, Cuttack, Lucknow, Indore, and Guwahati. In the end, Lucknow and Ahmedabad were chosen as the two franchises. Bidders were allowed to bid for more than two cities, but they needed to choose one at the end.

BCCI will use the same format that was used in the IPL 2011. The teams will be divided into two groups of five teams each. Each team will play 14 games in the tournament, 7 home and 7 away.

IPL 2022 New Teams: Owners and Price

The RPSG group and CVC Capitals were the successful bidders in the BCCI event. RPSG group were the highest bidders with INR 7090 Cr, whereas CVC Capitals were the second highest with INR 5625 Cr. Lucknow will be the base city of the RPSG Group, whereas Ahmedabad will be of CVC Capitals.

There was a total of nine parties involved in the bidding process at the Taj Hotel in Dubai. Manchester United owners Glazers were the lowest bidders with a price of just INR 4000 Cr, but the biggest surprise was Adani Group. Adani’s were considered the favourites to win the bid, but their bid was way too low comparatively.

“It is good be back in the IPL and I am delighted,” RPSG owner Sanjiv Goenka (RPSG Group) said. “It is an initial step. We now have to build a good team and perform.”

The RPSG bid was more than 200% of BCCI’s base price, whereas CVC’s bid was around 160% more.

“It is heartening to see the inclusion of two new teams at such a high valuation, and it reiterates the cricketing and financial strength of our cricket ecosystem,” Sourav Ganguly said.