IPL New Team Auction: The IPL bidding process for new teams ended on Monday as the cash-rich Indian Premier League franchise will have two new teams as in Ahmedabad and Lucknow from next season onwards. According to news agency ANI, after the verification process, CVC Capital won the bid for Ahmedabad for Rs 5,200 crore whereas the RP-Sanjiv Goenka Group bagged the Lucknow franchise at Rs 7,000 Crore.Also Read - SA vs IND: CSA Revise India Tour Schedule, First Test on December 26

Talking to the media on the addition of two new IPL teams, BCCI President Sourav Ganguly said, “We’re extremely happy that Indian cricket is growing forward. That is what is important for us. We look at Indian cricket and that’s what our job is. The more Indian cricket prosperous, the better it is.” Also Read - IPL 2022 Mega Auction: Suresh Raina, Harbhajan Singh to Ambati Rayudu; Top Indian Released Players Who May go Unsold at Auction

Among the high-profile bidders who had put their name in the hat, directly or through consortiums, were the owners of Premier League club Manchester United, the Adani Group, Torrent Pharmaceuticals, Hindustan Media Ventures Pvt Ltd, RP-Sanjiv Goenka Group, Capri Global and one Singapore based Irelia Company Pvt Limited. Also Read - Here is How BCCI President, Sourav Ganguly Convinced Rahul Dravid For Team India Role

The companies had picked up tender documents worth Rs 10 lakh but with a base price for new teams pegged at INR 2000 crore.

New IPL Franchises:

RP-Sanjiv Goenka Group – Lucknow – Bid: Rs 7,000 Crore

CVC Capital – Ahmedabad – Bid: Rs 5,200 Crore

The BCCI twice had earlier extended its ‘Invitation to Tender’ and had extended the deadline till October 20th, so that Manchester United can take part in the bidding process. The Governing Council of the IPL had issued the ‘Invitation to Tender’  (“ITT”) document available on payment of the non-refundable tender fees on August 31, 2021.

Which were the cities in fray?

Ahmedabad, Lucknow (two favourites), Indore, Guwahati, Pune, Dharamsala, Cuttack.

What was the Base Price set by BCCI?

The base price per team Is Rs 2000 Cr. This means no potential buyer can bid less than that. That’s the minimum amount from where bidding starts.

Which kind of companies can bid for a franchise?

Any company (even overseas) which has its operations in India and is enlisted can bid for a team. However, the annual turnover has to be minimum Rs 3000 Crore.