The BCCI, on Monday, October 25, 2021, announced that the upcoming IPL 2022 will have ten teams playing a total of 74 matches. The 10 teams play 7 home and 7 away matches. The BCCI also announced the owners of the two new teams as well.
RPSG group successfully bid for the franchise which will be based out of Lucknow at INR 7090 crores, while Irelia Company Pte Ltd. (CVC Capital Partners) bid for Ahmedabad based franchise for INR 5625 Crores.
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, Mr. 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 the 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 emphasizes the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalizing the game of cricket. I am keenly looking forward to IPL 2022.”
“It is a momentous day for all of us and I formally welcome RPSG Ventures Ltd. and Irelia Company Pte Ltd. into the IPL fold. We had promised that IPL will be bigger and better from the 15th season and with Lucknow and Ahmedabad, we will take the league to different parts of India. The IPL has established gold standards for leagues across the world and remains a premium event on the sporting calendar as it has grown rapidly in a short span.
Despite numerous challenges posed by COVID-19, the 13th and 14th seasons were completed, and the bids prove that interested parties have faith in BCCI and its hosting capabilities. I am thrilled for the people of Uttar Pradesh and Gujarat as the long wait is over and they will now have their own IPL team. My best wishes to the two new teams,” said, Honorary Secretary, BCCI, Mr. Jay Shah.