The upper IPP offer more than doubled from all 8 winners in ’08 put together in 2008, when the Indian Premier League is a new business and investing in it is something from the leap of faith, the eight bargers win collectively pumped around Rs 3,000 Crore into eight franchise bags.
Thirteen years, with IPL strongly named as one of the Premier Sports Properties in the world, one company, a group of RP-Sanjiv Goenka (RPSG), bid RS 7,090 Crore – more than double the collective numbers raised in 2008 – to go with Lucknow franchise.
Private equity company CVC Capital Partners is another winner, bagging ahmedabad for RS 5,625 crore.
The Indian Cricket Board (BCCI) began the bidding process at 12:30 a.m.
in Dubai (local time 11:00) and spent the first six hours technically evaluating all bids to see if they met the feasibility criteria.
This is only 6:30 a.m.
and so on the Board began to see financial offers.
Read the ALSOCVC ASCVC AUSURS offer well for BCCI and IPlwith more than 25 offices globally, and with more than 23 years in a track record of investment in sports, one of the arrival of the world’s leading private equity investors into the IPL put the Indian T20 League in Global Spotlight And was a big shot on the arm for the Administration of Indian cricket.
Adadi Sportsline, considered award for the Ahmedabad franchise, submitted an offer of Rs 5,100 Crore for Ahmedabad and Lucknow.
CVC Bid RS 5,625 Crore for Ahmedabad and Rs 5,166 Crore for Lucknow.
RPSG Group bid the same number (Rs 7,090) for Ahmedabad and Lucknow.
BCCI gave RPSG choices to choose the city first, based on being the top bidder, and the group settled for Lucknow.
The Ahmedabad franchise thus automatically goes to CVC.
As one of the largest private equity players in the world, CVC comes with extensive knowledge of franchise and sports business.
PE players have become very successful partners and business builders for global sports platforms such as La Liga, Formula One, Rugby League and Moto-GP.
World leaders in equity and private loans with $ 117.8 billion assets under management, CVC capital will not only place the IPL under the global spotlight but also expected to add serious value to the T20 league.
Also read: Very happy, especially Lucknow franchises, said Sanjiv Goenkaafter managed to bid RS 7090 Crore which was surprisingly for the new Lucknow IPL franchise, Sanjiv Goenka, Chair, RPSG Group, said he was “very happy to be able to return to the IPL” and that “we specifically want Lucknow as a city choice “new team to play from season 2022” we have promised that the IPL will be bigger and better than the 15th season and with Lucknow and Ahmedabad, we will take the league to various parts of India.
IPL has set a gold standard For the World League.
My warm greetings for the two new teams, “BCCI Secretary Jay Shah was quoted as saying, in a statement released by the Board.
“The CVC entry is huge for BCCI, IPL and cricket games because this will take the IPL appeal and the overall assessment to the next level.
This is the first time a global player has set foot on the IPL.
The RP-Sanjiv Goenka Group has also dipped his legs in the IPL The past when they had a franchise in Pune for two years.
They also have a very good experience in running sports franchises, “Bcci Treasurer said, Arun Dhumal to Tii.
In 2016, when the Supreme Court had banned Rajasthan Royals and Chennai Super Kings from the IPL for two years, BCCI – below it, then Sundar Raman’s Sundar Operating Officer – had done a unique reversing offer process to operate in the Temporary period.
The RPSG Group has, at that time, working on numbers that are better than other bidders, to take Pune franchise for the 2016 edition and 2017.
BCCI President Ganguly Ganguly and Chairman of the Board of Government of IPL Brijesh Patel congratulated two rounds of winners.
“The ITT process includes two bidders who are interested in outside India, which strongly emphasizes the charm of Global IPL as a sports property,” Ganguly said in a BCCI statement.
Other bidders participating in the IPL offer process are Amrit Lila Enterprises Pvt Ltd (Box), Avashya Corporation Cargo Pvt Ltd (All Cargo Logistics), Global Capri Financial Company, Championship Cricket LLC (Avaram Glazer), Hindustan Media Ventures Ltd (HT Media) And Torrent Sports Ventures Pvt Ltd all biders made an offer for Ahmedabad and Lucknow while the RPSG Group was the only company that submitted Rs 4,790 Crore-Bid for Indore.
The new franchise will participate in the Indian Premier League from the 2022 season.