Watch | IPL welcomes two new franchises
The Hindu
RPSG wins bid for Lucknow and CVC Capital bags Ahmedabad
Lucknow and Ahmedabad have formally joined the Indian Premier League. The new Lucknow IPL team was bought by RPSG Group for Rs. 7,090 crore. The Ahmedabad team was bought by CVC Capital Partners for Rs. 5,625 cr.
RP-Sanjiv Goenka group or RPSG Group is a Kolkata-based business conglomerate and has business ventures across industries. In 2016, RPSG Group entered IPL and bought the Pune franchise for two years.
CVC Capital Partners is a Luxembourg-based private equity firm with interests and investments in various sports properties. The Ahmedabad team is CVC's maiden entry into IPL. With the addition of two teams, the BCCI announced that the IPL will become a 10-team affair with a total of 74 matches to be played in each edition.
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