The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play seven home and seven away matches, confirmed BCCI on Monday (October 24).
The Governing Council of the IPL had issued an Invitation to Tender (ITT) to acquire the right to own and operate two new franchises. Pursuant to the tender process, various interested parties submitted their bids for the new franchises. The bids were submitted by the authorised representatives of the interested parties in Dubai on Monday.
BCCI announced the following successful bidders (subject to definitive documentation and other formalities being completed): RPSG Ventures Ltd. - Lucknow (for INR 7,090 crores) and Irelia Company Pte Ltd (CVC Capital Partners) - Ahmedabad (for INR 5,625 crores).
NEWS: BCCI announces the successful bidders for two new Indian Premier League Franchises
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— BCCI (@BCCI) October 25, 2021
The new franchises will participate in IPL from the 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document.
BCCI President, Sourav Ganguly said: "The BCCI is happy to welcome two new teams from the next season of the Indian Premier League. I would like to congratulate RPSG Ventures Ltd & Irelia Company Pte Ltd for being successful bidders. The IPL will now go to two new cities in India viz in Lucknow and Ahmedabad. It is heartening to see the inclusion of two new teams at such a high valuation, and it reiterates the cricketing and financial strength of our cricket ecosystem. True to IPL's motto of 'Where Talent Meets Opportunity', the inclusion of two new teams will bring more domestic cricketers from our country to the global stage. The ITT process included two interested bidders from outside of India, which strongly emphasises the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalising the game of cricket. I am keenly looking forward to IPL 2022."
Notably, the mega auction for the IPL 2022 will be held later this year in December.
