Dubai: The Sanjiv Goenka-led RPSG group and international investment firm CVC Capital have won the ownership rights of the two new franchises in the IPL.
The RPSG Group have picked Lucknow as their home base with a winning bid of a whopping INR 7090 crores while CVC Capital opted for Ahmedabad with a second-highest bid in excess of INR 5000 crores.
“It is good to be back in the IPL and I am delighted. It is an initial step. We now have to build a good team and perform,” Sanjiv Goenka, owner of the RPSG told ESPNcricinfo.
In total, over a billion US dollars have been spent this evening in Dubai.
A total of 10 parties entered the fray with bids to own the two franchises on Monday (October 25) at the Taj Dubai. Football club Manchester United and the Adani Group were among others to have placed bids to purchase a team.
The bidders also got to choose from six centers – Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati, and Indore – to base their team in.