IPL
RPSG, CVC Capital win bids for Lucknow, Ahmedabad IPL teams
|| CF DESK ||
The two additional franchises in the IPL have been awarded to the RPSG group and international investment firm CVC Capital. With a winning bid of INR 7090 crores, the RPSG Group chose Lucknow as their home base, while CVC Capital chose Ahmedabad with a bid of INR 5166 crores.
On Monday (October 25), a total of ten parties submitted bids for the two franchises at the Taj Dubai.
The bidders also got to choose from six centres - Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore - to base their team in.
All parties were required to submit two envelopes, one for personal and financial information and the other for the bid.
The Board of Control for Cricket in India (BCCI) had its legal and audit authorities check the bidders' credentials first, and only once they were found to be in order, did the second envelopes containing the bids open.