It is final that CVC Capital Partners Won bidding for Ahemdabad IPL Team Franchise and Sanjiv Goenka RPSG won the bid for Lucknow IPL Team. Gautam Adani and Manchester United lose bid for Ahmedabad and Lucknow Franchises respectively.
IPL: Ahmedabad, Lucknow will be new teams as CVC Capital Partners, RPSG make winning bids won for Lucknow Franchise. This news came around 7:30 PM from Dubai where auction of IPL team were organised.
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Bidding amount paid by CVC Capital Partners and RPSG Sanjiv Goneka for Ahmedabad & Lucknow IPL Team
BCCI expected to earn Rs 7000-8000 crore from the sale two new IPL Team franchises. Along with that, Extra 450 crore revenue from Broadcasting and Sponsorship right. CVC Capital Partners likely paid 5600 crore for Ahmedabad IPL Team Franchise. And, RPSG Sanjiv Goenka Paid around 7090 crore for Lucknow Team Franchise. The official figures are yet to be announced.
Interested parties reportedly submitted two envelopes – one details their personal and financial credentials and the others were for the bid. After evaluating the personal and financial credentials, the bid considered.
Other Highlights regarding IPL Team auction
Adani Group, RP-Sanjiv Goenka Group, Hindustan Times Media, Manchester United and Aurobindo have placed the highest bids.
“Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They were serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don’t forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore),” PTI quoted a BCCI insider as saying.
Avram Glazer, Adani Group, RPSG, Jindal Steel, Torrent Pharma, Aurobindo Pharma, Hindustan Times Media, Rhiti Sports were the interested bidders. However, Torrent Pharma has reportedly not submitted its bid.