SG Group Lucknow Rs. 7,090 crore and CVC Group Ahmedabad Rs. 5,625 crore

Adani and Torrent out: CVC Group discusses Singapore funding and Reliance backing

Dubai: Two teams, Ahmedabad and Lucknow, will be added to the IPL from next year, i.e. from 2022. Thus, in addition to the current eight IPL, the highest bidder in today's bidding will be Ahmedabad team and Lucknow team will be played between ten teams.

To the surprise of not only the Ahmedabad team but also the BCCI and the corporate world, CVC Capitals, which has its headquarters in Luxembourg and is funded by Singapore, has raised Rs. 5625 crore. It is believed that Reliance has a shadow behind CVC Capitals.

Their team can be 'backing' in terms of management or purchasing. Goenka's LG Group of the Lucknow team paid Rs. Owned with highest bid of Rs 7090 crore.

There was a strong belief in cricket circles that only the Adani group would own the Ahmedabad team but in addition to Adani, the Torrent group also got out with relatively low bidding. Adani Group offers Rs. 5100 crore and Torrent Group bid Rs. 4653 crore.

Goenka has been the owner of the Rising Pune Super Giants team for two years in the past, 2016 and 2017, so he has a knack for the bidding process that took him work.

It took seven hours to complete the entire process of bidding for the bid today as well as its amount and other verifications and finally the top two bidders were announced late in the evening.

Tenders were submitted by Adani Group, Hindustan Times Media, Torrent Pharma, Orbindo Pharma, All Cargo, CVC, SG Group and Kotak Group as well as Manchester United's Glazers. The tender of Dhoni's previous management company Rehiti Sports was canceled due to technical reasons. Adani's representative brought a BCCI sponsor during the bidding and threw him out of the hall.

Indian Cricket Board President Ganguly, Secretary Jai Shah, Vice President Rajiv Shukla and IPL Chairman Brijesh Patel were special guests. The addition of these two teams has cost the Indian Cricket Board an additional Rs. Revenue of Rs 12,690 crore will be received.

The realization that the image of the IPL is becoming global came in the form of companies like football's Manchester United and Glazers also swayed in the bidding. The Ahmedabad team is named after CVC Capital's Irelia Company. Which is located in Singapore.