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BCCI announces the successful bidders for two new Indian Premier League Franchises

 

MEDIA ADVISORY

25th October 2021

BCCI announces the successful bidders for two new Indian Premier League Franchises

The Governing Council of the IPL had issued an Invitation to Tender (“ITT”) to acquire the right to own and operate 2 (two) new franchises. Pursuant to the tender process, various interested parties submitted their bids for the new franchises. The bids were submitted by the authorised representatives of the interested parties at Dubai today. 

BCCI is pleased to announce the following successful bidders (subject to definitive documentation and other formalities being completed):

1.     RPSG Ventures Ltd. – Lucknow (for INR 7090 crores)

2.     Irelia Company Pte Ltd. (CVC Capital Partners) – Ahmedabad (for INR 5625 crores)

The new franchises will participate in IPL from 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches. 

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 emphasises the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalising the game of cricket. I am keenly looking forward to IPL 2022. 

Mr Jay Shah, Honorary Secretary, BCCI said: 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.

Mr Brijesh Patel, Chairman, IPL said: The level of interest among the interested parties prove that IPL is among the most sought-after sporting leagues in the world. We had bids from different parts of the world and from parties with diverse portfolios wanting to make a foray into the world of sports. I extend my heartiest congratulations to RPSG Ventures Ltd. and Irelia Company Pte Ltd. for securing the rights to operate the two teams. We had a wonderful 14th season and the 2022 season will see a new beginning.

Mr Arun Singh Dhumal, Honorary Treasurer, BCCI said: The fact that winning bids were way above the base price set for the two new IPL franchises is a direct indication of the true value of the Indian Premier League. We received tremendous interest after the ITT was floated with many conglomerates putting their hat into the ring. I congratulate RPSG Ventures Ltd. and Irelia Company Pte Ltd. for placing the highest bids and winning the rights to own the IPL teams. I also thank all the bidders for showing faith in the BCCI and IPL. This is the start of an exciting chapter, and I can’t wait for the big auction to see how the new teams shape up.

BCCI

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  • Kool_SRG changed the title to IPL 2022 - Ahmedabad & Lucknow Join as New Teams

CVC Capital Partners was cleared after legal scrutiny, says BCCI official

  • The Indian cricket board did a fresh round of legal scrutiny of the entity that was awarded the Ahmedabad IPL franchise after questions over CVC’s business interests.

 

 

Forty eight hours after the Board of Control for Cricket in India (BCCI) awarded franchise rights as part of the Indian Premier League’s expansion to two new parties—RP Sanjiv Goenka Group and Irelia Co Pvt Ltd (CVC Capital Partners) for a total of Rs. 12,715 crore, ethical and legal questions are being raised around the winning parties.

RPSG, which made the winning bid of Rs. 7,090 crore to acquire the Lucknow franchise, is seen as being in conflict because BCCI president Sourav Ganguly is a director in ATK Mohun Bagan, the football club owned by the group. “Ganguly has already initiated the move to step down from directorship,” a BCCI official said. “He was always going to do that, in case they happened to win the bid. That’s always how issues of conflict are addressed.”

More serious questions are being raised about CVC Capital Partners for its business interests in betting firms in the international market. “I guess betting companies can buy a @ipl team. must be a new rule. apparently one qualified bidder also owns a big betting company. does @BCCI not do homework. what can Anti corruption do in such a case?” tweeted former IPL commissioner Lalit Modi. He was suspended from the IPL post in 2010. CVC Capital Partners was awarded the Ahmedabad franchise for a bid of Rs. 5,625 crore.

According to past press statements issued by CVC Capital Partners, it acquired a majority stake in Malta-headquartered betting operators Tipico, which has a major base in Germany too, in 2016 after taking a controlling stake in UK’s Sky Betting and Gaming in 2014. Betting is legal is those regions. None of these entities have business operations in India, where betting is illegal. Queries to CVC remained unanswered.

A BCCI official who did not wish to be named said the board had done due diligence and only after legal scrutiny was CVC cleared. “Private firms have always got investments in various entities. So long as they are not investing in a banned business under the Indian law, there is no problem there,” the official said.

However, it is learnt BCCI did another round of legal scrutiny of CVC’s investments on Wednesday, on whether there was any non-declaration on its part while submitting the bid. The BCCI official said “none of the bidding parties had raised an issue with the winning bids”.

While RPSG and CVC Capital Partners made the highest bids in Monday’s auction, the third highest bid was made by Adani Sportline Pvt Ltd to the tune of 5,100 crores. This is the second time that Ahmedabad based Adani group has lost an IPL bid for a team, having previously made an unsuccessful bid in 2010.

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2 minutes ago, Kool_SRG said:

CVC Capital Partners was cleared after legal scrutiny, says BCCI official

  • The Indian cricket board did a fresh round of legal scrutiny of the entity that was awarded the Ahmedabad IPL franchise after questions over CVC’s business interests.

 

 

Forty eight hours after the Board of Control for Cricket in India (BCCI) awarded franchise rights as part of the Indian Premier League’s expansion to two new parties—RP Sanjiv Goenka Group and Irelia Co Pvt Ltd (CVC Capital Partners) for a total of Rs. 12,715 crore, ethical and legal questions are being raised around the winning parties.

RPSG, which made the winning bid of Rs. 7,090 crore to acquire the Lucknow franchise, is seen as being in conflict because BCCI president Sourav Ganguly is a director in ATK Mohun Bagan, the football club owned by the group. “Ganguly has already initiated the move to step down from directorship,” a BCCI official said. “He was always going to do that, in case they happened to win the bid. That’s always how issues of conflict are addressed.”

More serious questions are being raised about CVC Capital Partners for its business interests in betting firms in the international market. “I guess betting companies can buy a @ipl team. must be a new rule. apparently one qualified bidder also owns a big betting company. does @BCCI not do homework. what can Anti corruption do in such a case?” tweeted former IPL commissioner Lalit Modi. He was suspended from the IPL post in 2010. CVC Capital Partners was awarded the Ahmedabad franchise for a bid of Rs. 5,625 crore.

According to past press statements issued by CVC Capital Partners, it acquired a majority stake in Malta-headquartered betting operators Tipico, which has a major base in Germany too, in 2016 after taking a controlling stake in UK’s Sky Betting and Gaming in 2014. Betting is legal is those regions. None of these entities have business operations in India, where betting is illegal. Queries to CVC remained unanswered.

A BCCI official who did not wish to be named said the board had done due diligence and only after legal scrutiny was CVC cleared. “Private firms have always got investments in various entities. So long as they are not investing in a banned business under the Indian law, there is no problem there,” the official said.

However, it is learnt BCCI did another round of legal scrutiny of CVC’s investments on Wednesday, on whether there was any non-declaration on its part while submitting the bid. The BCCI official said “none of the bidding parties had raised an issue with the winning bids”.

While RPSG and CVC Capital Partners made the highest bids in Monday’s auction, the third highest bid was made by Adani Sportline Pvt Ltd to the tune of 5,100 crores. This is the second time that Ahmedabad based Adani group has lost an IPL bid for a team, having previously made an unsuccessful bid in 2010.

LOL Adani supporting batch seems to have tried to play a game here...

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On 10/25/2021 at 3:17 PM, Kool_SRG said:

2: 10 PM: According to reports, Adani Group has turned up at the bidding table with an outside agency & one of IPL's own official partners, Unacademy as Unacademy representatives were seen sitting with Adani representatives in the bid room. This could be a conflict.

 

On 10/25/2021 at 3:17 PM, Kool_SRG said:

2: 40 PM: The Unacademy representatives, who were seen sitting with Adani representatives in the bid room, have now left the room to avoid conflict.

Ayithe unacademy and adani batch ki ekkado indirect link undhi seems that they tried out tricks after loosing bid...

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  • Kool_SRG changed the title to *****IPL 2022*****

IPL retention rules: old teams can keep four players ahead of 2022 auction, three early picks for new teams

After the list of retained players is finalized, the two new franchises will get first choice from the rest of the pool ahead of the auction.

 

A maximum of four players can be retained by the eight existing IPL teams while the two new franchises will be able to acquire three players from the rest of the player pool before the 2022 auction. While there is no confirmed date for the auction, the purse for the 2022 auction is likely to be INR 90 crore (USD 12 million approx), which is slightly more than the INR 85 crore that was available in the 2021 auction.
 

 

ESPNcricinfo has learned that there are two different combinations teams can apply while picking their four players to retain: three Indians and one overseas, or two Indians and two overseas. Also, unlike the previous big auction ahead of the 2018 season, there will be no right-to-match cards (RTM) at the auction.
 

 

The IPL clarified these rules in informal discussions this week with the franchises. The three Indians retained by franchises can all be capped, all uncapped or a mix of both.
 

 

As for the three players going to the two new franchises - Lucknow and Ahmedabad - the IPL has specified a combination of two Indian players and one overseas. What remains unclear at present is whether these players will need to be picked strictly from the group of players not retained by the existing franchises, or can be from the larger auction pool - which will have new additions - ahead of the 2022 auction.
 

 

If the two new franchises are allowed to pick only from group of players not retained by the other eight, then a player-draft system is likely to be put in place. The IPL had had a player draft ahead of the 2016 season after two new teams - Rising Pune Supergiants and Gujarat Lions - replaced Chennai Super Kings and Rajasthan Royals for two seasons while they served suspensions in the aftermath of the 2013 spot-fixing case. Back then, Supergiants got the first pick - which was Super Kings' captain MS Dhoni - on the basis of the franchise having made the largest bid during the auction for the two new franchises.
 

 

With regards to retentions, the final choice will remain with the player: does he want to be retained or does he want to go back into the auction pool - that choice might be guided by wanting a change of franchise or if he believes he can earn a better paycheck at the auction.
 

 

While the IPL is yet to announce the details and rules, the deadline for retaining players is likely to be the end of November. Some of the key elements that the IPL is still to firm up include the maximum amount that can be spent on each retained player and the percentage of the auction purse each franchise can spend overall on retaining players.
 

 

In 2018, when the last big auction took place, teams were given a purse of INR 80 crore, and could spend a maximum of INR 33 crore on retained players. At the time teams could buy back five players through a combination of retention and two RTM cards at the auction.

 

If a franchise retained the maximum of three players before the auction, the deductions from from the salary cap were: INR 15 crore for the first player, INR 11 crore for the second, and INR 7 crore for the third - unless a player's exiting salary was already higher than the cap, as was the case with Virat Kohli, who was paid INR 17 crore by RCB.
 

 

If only two players were retained, then the first was bought back at INR 12.5 crore and the second at INR 8.5 crore. If only one player was retained, then franchise would lose INR 12.5 crore from their purse. Back then, the IPL had also stipulated a salary cap of INR 3 crore for an uncapped player retained.
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  • Kool_SRG changed the title to $$$$ GUJARAT TITANS CHAMPIONS - IPL-2022 $$$$
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