Indian Premier League (IPL) will be a 10 team affair from the 2022 season with two new franchises announced for the upcoming season.
The two new IPL franchises will be based in Ahmedabad and Lucknow, BCCI announced on Monday.
CVC Captial Partners, a private equity and investment advisory firm, won the bid for the Ahmedabad team, while the RPSG Group, an Indian conglomerate, won the bid for the Lucknow franchise.
RPSG Group’s winning bid was of Rs. 7090 crore while that of CVC Capital was Rs. 5625 crore, the BCCI revealed in a press release.
With the additions of Ahmedabad and Lucknow, the IPL from next year will now be a 10-team tournament.
“The new franchises will participate in IPL from 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches,” the BCCI press release stated.
The bidding process for the two new teams in the IPL took place in Dubai on Monday, with the two highest bidders winning the franchise rights.
However, all the teams will get a massive makeover with a mega players’ auction set to take place.
The BCCI had earlier shortlisted six cities — Ahmedabad, Lucknow, Cuttack, Guwahati, Ranchi and Dharamshala — as bases for the two new teams.