(Image source from: cricfann.com)

The Board of Control for Cricket in India (BCCI) is the richest cricket board of the globe and the IPL is bringing huge revenue for BCCI. The Board decided to introduce two new teams for IPL 2022 and the discussions have been on for the past few months. Bids are invited and the auction for the new IPL teams took place yesterday. The two new IPL teams are sold out for a whopping price of Rs 12,715 crores. The bidding event took place in Dubai and Sanjiv Goenka's RPSG Ventures bagged the franchise of Lucknow for a price of Rs 7090 crores.

The Irelia Company Pte Ltd (CVC Capital Partners) purchased the franchise of Ahmedabad for a price of Rs 5625 crores. Irelia Company Pte Ltd left Adani Group in shock and managed an edge to bag the franchise. The Glazer family who owns Manchester United football club too was in the race but they failed in the bid. They posted their bid through Lancer Group. Indian cricketer MS Dhoni too participated in the bid through his management firm Rhiti Sports but it was dismissed at the technical stage. Two new teams Ahmedabad and Lucknow will participate in IPL 2022.

By Siva Kumar