Cuttack Misses The IPL Bus; Know The Two New Teams

Dubai: RP-Sanjiv Goenka Group and CVC Capital are owners of the two new IPL franchises, the bidding for which was held here on Monday.

RPS Goenka group bagged the Lucknow-based franchise with the highest bid of Rs 7,000 crore while private equity firm CVC Capitals a.k.a Irelia won Ahmedabad at Rs 5200 crore, PTI reported.

These teams will join the league from 2022.

There were 10 parties bidding for the two new teams with the base price fixed at Rs 2,000 crore. Besides favourites Ahmedabad and Lucknow, Indore, Guwahati, Pune, Dharamsala and Cuttack were also in the fray.

Industrialist Naveen Jindal was keen on the Cuttack franchise.

Also Read: IPL To Expand To 10 Teams Today; Naveen Jindal To Submit Bid For Cuttack

The official announcement is yet to be made even after the hours-long bidding process, including verification and technical evaluation, which began at 11 am.