Team Ahmedabad has been bought by CVC Capital Partners.
The Indian Premier League (IPL) is entering a new era with the addition of two new teams, making the league a 10-team affair starting in the 2022 season. The two new IPL teams would be headquartered in Ahmedabad and Lucknow, according to news agency ANI. The Ahmedabad team was awarded to CVC Capital Partners, a private equity and investment advisory business, while the Lucknow franchise was awarded to the RPSG Group, an Indian conglomerate, according to the newspaper.
This isn’t the first time the RPSG Group has ventured into the world of sports. The group previously owned the IPL franchise Rising Pune Supergiant (2016-17 seasons) and is now the majority owner of ATK Mohun Bagan in the Indian Super League (ISL).
On Monday, the IPL held a bidding procedure for the two new teams, with the two highest bidders gaining the franchise rights.
