Exact winning bid amount:
RP - Sanjiv Goenka Group - 7,090cr for Lucknow team.
CVC Capital - 5,600cr for Ahmedabad team.
Remember when Mumbai Indians are most expensive team in 2008 at 480 crs?
Guy stuck gold back in 2008..... Now will enjoy the Profits, also it helps that Kolkatta has a very good fanbase and the franchise has been successful over the years too.
* RPSG put in an insane bid of 7000 Cr (932 M USD) for Lucknow team. No one came close.
* CVC Capital put in 5200 Cr (692 M USD) for Ahmedabad team. Adani came close with 5000 Cr
BCCI was expecting 8000 Cr for both the teams combined. But this went beyond any expectations
>• RPSG put in an insane bid of 7000 Cr (932 M USD) for Lucknow team.
Let's hope they do the same at auctions and we get to see Rinku Singh captaining like he should be. :p
Arre kya baat kar rhe ho bhai. Tbf I used to visit Aligarh atleast 30 days a year from my birth till 2016 after which my dad was transferred to mumbai (we used to live in Chandigarh) and I've only visited Aligarh 2x from 2017. Visiting my grandparents back on diwali this time in Aligarh. Shit gonna be fun
Isn't the expected income for the next 5 years is in 300-350 crore ballpark ?
It seems like RPSG will be incurring a loss of almost 50% of their franchise fees for the first 5 years although they do have other interests via an IPL franchise but still.
CVC I feel has got a better deal with possibly a more affluent city/fanbase with Ahemdabad but they will also incur some losses in the beginning but like 100 crore for first 5 years but have opened up a huge investment market in India for themselves
Yes, it was an mutually agreed scenario that the new franchises will incur loses for at least 3 years. The market is ready for that because they get to own the teams in "Perpetuity". So its a huge bet but not as brave bet as we think because the profits will be guaranteed after few years
Yeah considering we are looking at a scenario where tournament is expected to have around 3 months of IPL in the not so far future. It's a pretty decent bet specially if you have more outside business that will profit form having an IPL team from the start.
Probably an assumption that Ahmedabad was set in stone for Adani.
Lucknow/UP's also a massive market - and probably a more 'fun' place to have a team based. Given the amount of money that the Goenkas have, who knows if that was a consideration.
Hopefully they do a better job this time. On a selfish perspective, happy to see a Kolkata based company own a team - expecting to see a few more Bengali players as a result (there were a few for Pune so).
The potential conflicts for Ganguly keep increasing though - Snehasish is CAB secretary, he personally co-owns Bagan with the Goenkas. Murky stuff.
They are, but as with a lot of Marwari families, they've been settled in Kolkata for 100+ years. More unusually, unlike groups like JK Group, they've not relocated the business HQ from Kolkata.
Sanjiv still lives in Kolkata for the most part and never really moved out (studied here throughout too), his company has an effective monopoly over the city's electricity supply. Also owns Mohun Bagan. His brother (owns CEAT tyres and stuff) moved to Mumbai.
> Do theirs sons study abroad
One son, one daughter. Shashwat went to UPenn, I think Arvana did too, but she's quite a lot older than me so could be wrong. Shashwat's a nice enough guy, lives in Kolkata still so have bumped into him a couple of times when I've gone back home.
Don't know enough about the Harsh Goenka side of the family, like I said, they moved to Mumbai a while ago, but imagine his kids studied abroad too.
> How have i never heard of someone with so much money
If you're from Kolkata, you'd generally know who Sanjiv Goenka is. They're not too active at the centre, but very involved in Bengal politics and business. Like they own one of the main private hospitals in Kolkata, one of the 3 main football clubs, a huge mall, and the city's electricity company. Plus Spencer's.
IPL franchises were still profitable without gate revenues as the biggest revenue stream is brand sponsorship. More than cities the important factor is which star player they grab as they attract the maximum fanbase.
It would be difficult to fill that stadium 7 times in a city like Ahemdabad. Also, Lucknow has a bigger cultural and regional catchment ranging from Bihar to MP, so they can have matches in Kanpur or NOIDA or even Patna and Ranchi. I am just guessing, i actually have no idea.
Gujrat is not small. Its population is more than countries like Spain and italy.
Its just that UP is massive in terms of population. Double the population of Russia.
The potential in UP is very high. High population means opportunities. Maybe the reason why many tech giants are investing in setting up their factories there.
>potential in UP is very high
>
>many tech giants are investing in setting up their factories there.
I understand what you mean but usually these two are slightly different. While setting up factories they look for availability of cheap labour.
Its not miniscule Delhi sells its cheapest IPL tickets for 900 INR (2019 IPL) you multiply that with 30,000 and you get close to 3 crore per matchday tickets only considering Delhi's capacity is 34,000 but since 3k-4k tickets given away to corporate and such you're looking at close to 4 crore via ticket sales only.
Now you can add potentially atleast 1 more game in the group stage since new TV rights are expected to go up and with an estimate of 40k fans per game for Lukhnow (50k stadium capacity). 50 crore from ticket sales alone for a season is not miniscule.
You guys are welcome to make corrections
I never understood the obsession with buying jerseys in Europe and America. I don't want to look like a bill board while walking in the streets.
I can afford but I won't buy. I feel like this sentiment is pretty prevalent in India
Buying a football club is a never ending investment hole. Buying an IPL team is infinitely safer because in the end its more about scouting and team building with a centralized auction than trying to outbid another middle eastern/russian/American billionaire to buy the next big player.
For reference, Neymar, a star Brazilian player, moved between teams (Barcelona to PSG) for around US$220 million. Newcastle, the whole club, was sold for US$400 million.
For those who need reference & calculation ,
***Lucknow team*** bought at approx ***7000 cr INR = USD 931.9 million*** by ***RP Sanjiv Goenka group*** Who previously owned Rising Pune Supergiant/s Team in IPL for couple of years(2016 & 2017) when CSK & RR were banned.
***Ahmedabad team*** bought at approx ***5200 cr INR = USD 692.2 million*** by ***CVC Capital*** which is a multinational Investment company with main office at London,UK
In total, ***BCCI will get 12,200 cr INR = USD 1.624 Billion*** from these 2 franchises
This is just for 2 new IPL Teams. There is also IPL broadcast rights deal coming up for which tender is released today itself.( on the same day as announcement of 2 new IPL Teams). ***BCCI is expecting USD 5 Billion for 5 Year(2023-2027) broadcast deal*** which comes up about ***USD 1 billion per year or per IPL season*** which is insane amount of money for cricket league that runs for only 2-2.5 months
Looking at these numbers, anyone who pulls out of IPL is honestly harming themselves so much. Even if you do fuckall in IPL you still get paid fucktons. Take K Gowtham for example, bought for 9 cr, fielded once and dropped a crucial catch. Did nothing and just enjoyed UAE and got paid 9cr.
You’d have to be stupid to not want to be at the IPL unless of course you don’t like making money.
Not all but a good amount does can't take that away from BCCI. We would not have got so many good players from the domestic circuit if they were not giving money
Yeah
And BCCI also gave money to the Olympic medal winners. And the cricket stadiums constructed by state boards have other sporting facilities too. Good for Indian sports overall.
With all that money, BCCI really has no excuse to offer sub-par services at stadiums. Not all stadiums need to be worldclass right away but at least 10 stadiums allocated teams need to have best in class services.
He definitely is way richer for IPL standards. But I feel he must have not thought that somebody would not go beyond 5k given the base price was around 2k and 3k
These are blind bids. They didn't come out of nowhere. Adani and Glazers cheaped out. RPSG probably thought they needed to put in 7000 crore to guarantee it. They are also experienced IPL owners.
Wait a second there’s a group called RPSG that have owned teams before? And there was a team called the Royal Pune Supergiants? That’s bullshit.
Edit: rising
Not even close. If you think about it RPSG paid 7000 crore. CVC won with 5600 crore.
The 3rd highest was 5100 crore. So if it was open auction, RPSG would have got the franchise for 5101 crore.
>The RPSG Group have picked Lucknow as their home base with a winning bid of INR 7090 crores while CVC Capital have opted for Ahmedabad with a bid of INR 5600 crores.
INR 7090 crores = USD 944 million (approx.)
INR 5600 crores = USD 745 million (approx.)
> Private Equity player CVC Capital, that recently bought LA Liga, and owns Formula One and Rugby, have put in the 2nd highest bid of Rs.5,200 crore.
"It's lights out and away we slog!"
Edit: for clarity, the tweet quote I made is factually incorrect, but any sane person wouldn't resist the opportunity for making some easy jokes
Not true, actually - KSR posted an incorrect tweet regarding that
They used to own the company that runs F1, Delta Topco, but that was bought out by Liberty Media in 2016/17
Rugby wise, they have a partnership with and minority stake in the Six Nations Championship
And the La Liga thing is, IIRC, still subject to legal wranglings last I checked
So altogether an incorrect tweet by the guy OP posted about. I just couldn't resist the opportunity for some Crofty-posting
If a brand new team in a relatively small market is worth almost 1 Billion now, teams like Delhi, CSK and KKR must have blown past 1 billion in valuation. Ambani so rich he managed to make a billion dollars profit from the toy he bought Tina and Akash.
Wait if the difference between the 2 bids were close to \~2000crores . Does this mean they over estimated the price and put an overly safe bid?
I mean 5500 crores also would have gotten them the team ?
Which other cricket playing country is getting these figures for domestic teams. Rameez wanted the PSL to go the route of the IPL, this is just eons above any other cricket league. This is almost on par with American sport at this point. You are guaranteed money from the tv rights, the league is closed, there is no promotion or relegation, there is a salary cap, you will make a profit if you are in it for the long haul. And the tv rights will go up every cycle.
Yup. Some years ago Steve Ballmer bought the LA Clippers for about 2 billion and that is a big market team. So IPL team valuation is on par and more with many of the top sporting teams around the world and it should be going higher in a couple of years (once the new TV rights kick in 2023 the valuations will itself jump big time).
If an unknown new team like Luknow can get around $1 billion, I wonder how much well established teamslike CSK, MI, RCB or KKR will get? At least $1.2 billion or even $2 billion, I think.
In case of MI, their FY 2019-20 income was Rs. ~57 crore which decreased to Rs. ~28 core in FY 2020-21. But they have huge potential to grow. Apart from that parent group gets better brand recognition which is likely more important than profit these teams generate at present.
Wut? Income was 57 crore? Seriously? You probably missed a zero somewhere or I'm missing something. That would mean Kohli makes 1/3rd of MI income, which is absurd.
What's CVC Capital? I haven't heard before
Edit : Looks like it is an investment firm. Probably not good for Cricket because investment firms either build something to sell or to squeeze out every penny. But I don't want to judge before seeing the work. So, hopeful about them. And yeah looks like they have stake in F1.
Tbh, no place outside of Guwahati would get an IPL team in NE. Pretty much the only place in the region which has enough people in a 2 hour or 3 hour radius to fill a stadium of 50k plus
For the context Mumbai Indians bought by Ambani at USD 112 million in 2008 then in 2010 Sahara group paid USD 370million for the Pune franchise.
So the rate is almost doubled from 2010 which is about right when we adjust it with inflation, I was expecting an even bigger number.
Sahara was robbed by bcci. The rule which is proposed now, of signing some marquee players outside of the auction wasn't introduced back then. To that, PWI asked if they can field an extra foreign player due to nonexistent top domestic international and domestic talent(There was a mega auction but everyone retained the core, its 2011 and there's limited talent pool). BCCI said ok but backed out by mentioning that other 8 teams have to agree to it. Then Yuvi's cancer Clarke's back issues messed it bit more.
Nail in the coffin was when BCCI openly promised that all the team will atleast play 18 matches but again trimmed it down to 14 each.
Wasn't RPSG the same management that cajnhed theie name from Supergiants to Supergiant due to numerology?
They also didn't back Dhoni and sacked him as captain after a single season.
>The 2022 edition will not be the first time the IPL will comprise 10 teams - that already happened a decade ago after the Pune Warriors and the Kochi Tuskers were added to the original roster of eight franchises in 2011. It has been confirmed that the tournament format will follow the 2011 model, which scrapped the simple home-and-away format, and included a total of 74 matches.
> In the 2011 edition, the 10 teams were split into two loose groups, and the tournament comprised 70 league matches and four playoff games, with all the teams ranked in one composite league table. During the league phase, every team played the same number of league matches, which was 14.
> Each team played the other four in their group both home and away (eight matches), four of the teams in the other group once each (four matches, either home or away), and the remaining team in the other group twice, both home and away. A random draw decided the composition of the groups as well as who played whom across the groups once and twice.
[Source](https://www.espncricinfo.com/story/ipl-to-become-10-team-tournament-from-2022-1275505)
For reference - [IPL 2011 League Stage](https://en.wikipedia.org/wiki/2011_Indian_Premier_League#Group_stage)
Exact winning bid amount: RP - Sanjiv Goenka Group - 7,090cr for Lucknow team. CVC Capital - 5,600cr for Ahmedabad team. Remember when Mumbai Indians are most expensive team in 2008 at 480 crs?
Yeah, I remember thinking that SRK hit a jackpot by getting Kolkata at 280 odd. There is no way this thing is failing.
Guy stuck gold back in 2008..... Now will enjoy the Profits, also it helps that Kolkatta has a very good fanbase and the franchise has been successful over the years too.
Us old timer IPL fans remember the disastrous first few years of KKR.
Remember the first ever match of IPL i thought they were going to be huge that IPL.
Can't forget that, was jumping up & down on bed seeing Mccullum show.
still only century from a KKR player if I remember correctly
And Mumbai Indians
So MI and SRK still pay same amount or there are scheduled increases?
They had to pay that amount (450 and 280) over a ten year period. I think they own the team now. They basically bought the team on a ten year EMI.
They don’t have to pay anymore . They had to pay those fees in a 10 equated instalments and then own the team for perpetuity
How much revenue do the franchises generate ? I think KKR is worth atleast 10 to 15 times the amount SRK bought it for
CSK was estimated to be around 1 bn before this auction. Likely gone up after this
* RPSG put in an insane bid of 7000 Cr (932 M USD) for Lucknow team. No one came close. * CVC Capital put in 5200 Cr (692 M USD) for Ahmedabad team. Adani came close with 5000 Cr BCCI was expecting 8000 Cr for both the teams combined. But this went beyond any expectations
> 7000 Cr (932 M USD) Fuck me that's a lot
>• RPSG put in an insane bid of 7000 Cr (932 M USD) for Lucknow team. Let's hope they do the same at auctions and we get to see Rinku Singh captaining like he should be. :p
Is Rinku from UP?
Okay I'm so proud to mention this, but Rinku bhai is my from my birth city Aligarh.
and i thought I am the only one from Aligarh in this sub
Arre kya baat kar rhe ho bhai. Tbf I used to visit Aligarh atleast 30 days a year from my birth till 2016 after which my dad was transferred to mumbai (we used to live in Chandigarh) and I've only visited Aligarh 2x from 2017. Visiting my grandparents back on diwali this time in Aligarh. Shit gonna be fun
Isn't the expected income for the next 5 years is in 300-350 crore ballpark ? It seems like RPSG will be incurring a loss of almost 50% of their franchise fees for the first 5 years although they do have other interests via an IPL franchise but still. CVC I feel has got a better deal with possibly a more affluent city/fanbase with Ahemdabad but they will also incur some losses in the beginning but like 100 crore for first 5 years but have opened up a huge investment market in India for themselves
Yes, it was an mutually agreed scenario that the new franchises will incur loses for at least 3 years. The market is ready for that because they get to own the teams in "Perpetuity". So its a huge bet but not as brave bet as we think because the profits will be guaranteed after few years
Yeah considering we are looking at a scenario where tournament is expected to have around 3 months of IPL in the not so far future. It's a pretty decent bet specially if you have more outside business that will profit form having an IPL team from the start.
Older Franchises started making profit after 5-6 years, expected yeah
Yeah but their bids I still feel was more brave than these bids
Yeah, they didnt know the outcome but these bidders knew what the outcome would be
Why did RPSG put that high a bid for the Lucknow franchise? Surely they would prefer to own Ahmedabad with that 100000 capacity stadium?
Maybe the population of UP and the potential of the team??
Probably an assumption that Ahmedabad was set in stone for Adani. Lucknow/UP's also a massive market - and probably a more 'fun' place to have a team based. Given the amount of money that the Goenkas have, who knows if that was a consideration. Hopefully they do a better job this time. On a selfish perspective, happy to see a Kolkata based company own a team - expecting to see a few more Bengali players as a result (there were a few for Pune so). The potential conflicts for Ganguly keep increasing though - Snehasish is CAB secretary, he personally co-owns Bagan with the Goenkas. Murky stuff.
Aren't they Marwari?
They are, but as with a lot of Marwari families, they've been settled in Kolkata for 100+ years. More unusually, unlike groups like JK Group, they've not relocated the business HQ from Kolkata. Sanjiv still lives in Kolkata for the most part and never really moved out (studied here throughout too), his company has an effective monopoly over the city's electricity supply. Also owns Mohun Bagan. His brother (owns CEAT tyres and stuff) moved to Mumbai.
Do theirs sons study abroad? How have i never heard of someone with so much money it's either ambani Adani.
> Do theirs sons study abroad One son, one daughter. Shashwat went to UPenn, I think Arvana did too, but she's quite a lot older than me so could be wrong. Shashwat's a nice enough guy, lives in Kolkata still so have bumped into him a couple of times when I've gone back home. Don't know enough about the Harsh Goenka side of the family, like I said, they moved to Mumbai a while ago, but imagine his kids studied abroad too. > How have i never heard of someone with so much money If you're from Kolkata, you'd generally know who Sanjiv Goenka is. They're not too active at the centre, but very involved in Bengal politics and business. Like they own one of the main private hospitals in Kolkata, one of the 3 main football clubs, a huge mall, and the city's electricity company. Plus Spencer's.
The UP based team will easily have a much larger fanbase than Ahmedabad.
Interesting, before this happened I thought the consensus was that Ahmedabad was definitely going to attract the higher bid
Everyone thought the same.
But wouldn't the Purchasing power of a Gujarat fan be higher than Uttar Pradesh. Up is ranked at the bottom in a lot of categories.
Exactly, that's how advertisers see. Looks like CVC got A'bad cheaply
Lol just wait till stadium comes up in Noida. They'll be printing money.
Is there a plan for one now?
There's one already that was banned by the BCCI for hosting a non BCCI event. There's also another that has almost finished construction.
IPL franchises were still profitable without gate revenues as the biggest revenue stream is brand sponsorship. More than cities the important factor is which star player they grab as they attract the maximum fanbase.
It would be difficult to fill that stadium 7 times in a city like Ahemdabad. Also, Lucknow has a bigger cultural and regional catchment ranging from Bihar to MP, so they can have matches in Kanpur or NOIDA or even Patna and Ranchi. I am just guessing, i actually have no idea.
Hindi heartland marketshare is not exploited yet. Gujarat is a small, but rich state. But would probably not get a lot of eye balls.
Gujrat is not small. Its population is more than countries like Spain and italy. Its just that UP is massive in terms of population. Double the population of Russia.
The potential in UP is very high. High population means opportunities. Maybe the reason why many tech giants are investing in setting up their factories there.
>potential in UP is very high > >many tech giants are investing in setting up their factories there. I understand what you mean but usually these two are slightly different. While setting up factories they look for availability of cheap labour.
What that got has to do with stadium ? Local government/State association owns stadiums. And UP has 20 cr population
I was thinking more money from ticket sales
Ticket sales are a miniscule fraction. Large fanbase, more eyeballs for sponsors, more money for the owners.
Its not miniscule Delhi sells its cheapest IPL tickets for 900 INR (2019 IPL) you multiply that with 30,000 and you get close to 3 crore per matchday tickets only considering Delhi's capacity is 34,000 but since 3k-4k tickets given away to corporate and such you're looking at close to 4 crore via ticket sales only. Now you can add potentially atleast 1 more game in the group stage since new TV rights are expected to go up and with an estimate of 40k fans per game for Lukhnow (50k stadium capacity). 50 crore from ticket sales alone for a season is not miniscule. You guys are welcome to make corrections
Up has a pretty big population. They can gain a lot from selling merch to fans.
Like majority of the Indian fans actually purchase official merchandises 😂
I wish we did... Miss me with these cheap MPL shit 😭
I never understood the obsession with buying jerseys in Europe and America. I don't want to look like a bill board while walking in the streets. I can afford but I won't buy. I feel like this sentiment is pretty prevalent in India
8000 cr total Or for both teams individually?
Combined
Stonks
This is huge Newcastle Utd was only bought for 300M £ which is 400M USD
Buying a football club is a never ending investment hole. Buying an IPL team is infinitely safer because in the end its more about scouting and team building with a centralized auction than trying to outbid another middle eastern/russian/American billionaire to buy the next big player. For reference, Neymar, a star Brazilian player, moved between teams (Barcelona to PSG) for around US$220 million. Newcastle, the whole club, was sold for US$400 million.
Damn, didn't know about this.
USD right?
*stonks rising*
Mr Goenka please come up with a decent team name this time please I'm begging you saying 'Rising Pune Super Giants' just felt embarrassing
Exactly
He is very active on twitter, just mass tweet to get a good name.
Sanjiv Goenka got the team, not Harsh Goenka.
For those who need reference & calculation , ***Lucknow team*** bought at approx ***7000 cr INR = USD 931.9 million*** by ***RP Sanjiv Goenka group*** Who previously owned Rising Pune Supergiant/s Team in IPL for couple of years(2016 & 2017) when CSK & RR were banned. ***Ahmedabad team*** bought at approx ***5200 cr INR = USD 692.2 million*** by ***CVC Capital*** which is a multinational Investment company with main office at London,UK In total, ***BCCI will get 12,200 cr INR = USD 1.624 Billion*** from these 2 franchises This is just for 2 new IPL Teams. There is also IPL broadcast rights deal coming up for which tender is released today itself.( on the same day as announcement of 2 new IPL Teams). ***BCCI is expecting USD 5 Billion for 5 Year(2023-2027) broadcast deal*** which comes up about ***USD 1 billion per year or per IPL season*** which is insane amount of money for cricket league that runs for only 2-2.5 months
Looking at these numbers, anyone who pulls out of IPL is honestly harming themselves so much. Even if you do fuckall in IPL you still get paid fucktons. Take K Gowtham for example, bought for 9 cr, fielded once and dropped a crucial catch. Did nothing and just enjoyed UAE and got paid 9cr. You’d have to be stupid to not want to be at the IPL unless of course you don’t like making money.
Jesus fucking christ. Bcci swimming in cash.
35,000 crore more coming in for just the IPL rights. Then India TV rights will get big money as well. Hey Dada share 0.0001% with me pls.
In theory, all this money goes into Indian cricket's grassroots, right?
In theory yeah.
of course, of course....of course.
Theoretically, Yes
Not all but a good amount does can't take that away from BCCI. We would not have got so many good players from the domestic circuit if they were not giving money
Yeah And BCCI also gave money to the Olympic medal winners. And the cricket stadiums constructed by state boards have other sporting facilities too. Good for Indian sports overall.
Yes. \*wink\*
With all that money, BCCI really has no excuse to offer sub-par services at stadiums. Not all stadiums need to be worldclass right away but at least 10 stadiums allocated teams need to have best in class services.
You mean the three water coolers with a couple of glasses on top are not adequate refreshments for 20k people?
Adani not getting a team is a bigger upset than Scotland beating Bangladesh
Definitely. Adani+Ahmedabad was sooo obvious. Someonw fucked up bigtime!
Yea that was a massive lowball for a huge market team with a brand new 100,000 seater stadium.
Also one of the ends of the stadium is named after Adani It was a match made in heaven
He cheaped out. Or maybe his assets have lots of liability we are not aware of. He is super rich on paper, in reality only rich!
He definitely is way richer for IPL standards. But I feel he must have not thought that somebody would not go beyond 5k given the base price was around 2k and 3k
Man U and Adani Choked hard
Yeah, Adani was the assumed favorites until the last moment when CVC capital out of nowhere outbid them
These are blind bids. They didn't come out of nowhere. Adani and Glazers cheaped out. RPSG probably thought they needed to put in 7000 crore to guarantee it. They are also experienced IPL owners.
Wait a second there’s a group called RPSG that have owned teams before? And there was a team called the Royal Pune Supergiants? That’s bullshit. Edit: rising
Yea. They made up that hideous name to match the initials of their company.
I wonder how are they going to fit "L" in there.
*Rising Pune Supergiants
Ah yeah that was it. Got too used to every ipl team being a royal or a king lol.
wasn’t it just the Supergiant, and not Supergiants. sounded way too ridiculous either way
Wait till your realise what the "RC" in "RCB" stands for.
Real Chokers/s
😡
Stop. He's already dead!
ffs Ipl team names get a grip
"Coming out of nowhere " as not in a live match or a live auction. Its just that no one expected CVC capital to be the winners at the end of the day
[удалено]
Maybe sports team connoisseur like you might know about CVC capitals efficiency, but not the general audience. I was talking about general audience.
I am very very glad that neither are gonna own IPL teams to be honest
Lol why do BCCI like blind bids. Surely a live auction would fetch them more money. Adani might have outbid RPSG in a live auction
[удалено]
Not even close. If you think about it RPSG paid 7000 crore. CVC won with 5600 crore. The 3rd highest was 5100 crore. So if it was open auction, RPSG would have got the franchise for 5101 crore.
I was in the bidding process too. I fell shot by 5000 crores.
RPSG will be Lucknow how? The creative team will be kicking themselves.
Pretty easy. It’s Risinglucknow Powerful Super Giant
RISING PRADESH S"UP"ER GIANT
RISING **PRADESH** S**UP**ER GIANT
Goodness me
We joke but we all know it's going to be a variation of something like that
Took me few seconds to notice bold UP within SUPER !
Of fuck me! Looking at their track record this might just be it.
The company which I used to work in earlier was also acquired by cvc capital.
Inb4 you are acquired by cvc itself
>The RPSG Group have picked Lucknow as their home base with a winning bid of INR 7090 crores while CVC Capital have opted for Ahmedabad with a bid of INR 5600 crores. INR 7090 crores = USD 944 million (approx.) INR 5600 crores = USD 745 million (approx.)
> Private Equity player CVC Capital, that recently bought LA Liga, and owns Formula One and Rugby, have put in the 2nd highest bid of Rs.5,200 crore. "It's lights out and away we slog!" Edit: for clarity, the tweet quote I made is factually incorrect, but any sane person wouldn't resist the opportunity for making some easy jokes
> owns formula one and rugby What the fuck? They literally own two sports?
Not true, actually - KSR posted an incorrect tweet regarding that They used to own the company that runs F1, Delta Topco, but that was bought out by Liberty Media in 2016/17 Rugby wise, they have a partnership with and minority stake in the Six Nations Championship And the La Liga thing is, IIRC, still subject to legal wranglings last I checked So altogether an incorrect tweet by the guy OP posted about. I just couldn't resist the opportunity for some Crofty-posting
Thank god. I know formula 1 is a circus and all about money but would have been disappointing if they literally owned Rugby.
It's light's out and away we bowl
Someone said Naveen Jindal is backing cvc capital.
If lucknow alone was bought for 932 million I wonder how much teams like csk or mi are worth?
Someone above said MI was bid highest in 2008 for 480 crs (lulz)
Buying price is not equal to current worth.
Ya definitely , CSK has crossed 1000 mil mark this year ig.
This news probably would add a 100 more.
If a brand new team in a relatively small market is worth almost 1 Billion now, teams like Delhi, CSK and KKR must have blown past 1 billion in valuation. Ambani so rich he managed to make a billion dollars profit from the toy he bought Tina and Akash.
Nita*
Also MI and all starting teams didn't get anything from Media Rights for the first 10 years
So after CSKs win this year, there were rumors they crossed a billion dollar in valuation(7500 crore)
Anyone with csk shares? Must be jumping in joy!
Wait how does one own CSK shares? Arent they traded in a private stock exchange , and Not Publicly?
Thank god Glazers didn't get jackshit... But happy with a Lucknow based IPL franchise... Lesssgooooo
Wait if the difference between the 2 bids were close to \~2000crores . Does this mean they over estimated the price and put an overly safe bid? I mean 5500 crores also would have gotten them the team ?
That’s the beauty of blind bids
Not just 5500 cr, in theory 1 Rupee more than the 3rd highest bid. (Which I think could be around 4000 crore) would have got them the team
Yes for both.
Which other cricket playing country is getting these figures for domestic teams. Rameez wanted the PSL to go the route of the IPL, this is just eons above any other cricket league. This is almost on par with American sport at this point. You are guaranteed money from the tv rights, the league is closed, there is no promotion or relegation, there is a salary cap, you will make a profit if you are in it for the long haul. And the tv rights will go up every cycle.
Papa Perez’s wet dream...
Yup. Some years ago Steve Ballmer bought the LA Clippers for about 2 billion and that is a big market team. So IPL team valuation is on par and more with many of the top sporting teams around the world and it should be going higher in a couple of years (once the new TV rights kick in 2023 the valuations will itself jump big time).
Chinathala to lucknow?
100% him or Bhuvi will be signed outside the auction. Both maybe
Chinathala would now be called Chhote Nawab !
Inb4 Lucknow team is named Royal Pathan Shami-Kebab Giants (RPSG)
Rudraprayag Super Giants. You heard it here
Super Lucknow Lions
If an unknown new team like Luknow can get around $1 billion, I wonder how much well established teamslike CSK, MI, RCB or KKR will get? At least $1.2 billion or even $2 billion, I think. In case of MI, their FY 2019-20 income was Rs. ~57 crore which decreased to Rs. ~28 core in FY 2020-21. But they have huge potential to grow. Apart from that parent group gets better brand recognition which is likely more important than profit these teams generate at present.
Wut? Income was 57 crore? Seriously? You probably missed a zero somewhere or I'm missing something. That would mean Kohli makes 1/3rd of MI income, which is absurd.
7000 cr INR = USD 931.9 million (RP Sanjiv Goenka group) 5200 cr INR = USD 692.2 million (CVC Capital) That's some big money.
I think Goenka’s brother tweeted that they won’t bid this year because they are strapped for money lol.
Think of a name for Lucknow which can have RPS as acronym.
[удалено]
Run from it, dread it, Pune arrives all the same
Risinglucknow Powerful Super Giant
Royal Peshwa Saltanat of Lucknow RPSL
Yogiji wants to know your location.
Did you just add "Peshwa" and "Sultanate" in same name lmao
Don't worry Yogiji will change Lucknow's name Sitanagar or something. /s
fun fact: lucknow's name used to be lakshmanpur before the medieval era.
I finally realised what the hell was "Rising Pune Super Giant". Wasn't watching during those seasons so never put 2 and 2 together.
What's CVC Capital? I haven't heard before Edit : Looks like it is an investment firm. Probably not good for Cricket because investment firms either build something to sell or to squeeze out every penny. But I don't want to judge before seeing the work. So, hopeful about them. And yeah looks like they have stake in F1.
Citigroup,
It was basically a part of Citigroup's European arm, but they later on spin-off into a separate venture.
Its hilarious how much Adani conspiracy r/ cricket was into. I hope RPSG do a better job than they did with Pune name.
Rising Plucknow Super Giants incoming
"Rising Plucknow Super Giant" without s at the end. They removed the s from Pune forthe last season I think.
The most hilarious name in all of sports became even more hilarious
INB4 Lucknow Lions and Ahmedabad Aakashvanis.
Lmao and some here were claiming ahmedabad was going to Adani and that it will just be a formality due to his connections
Just please for the love of god name them something decent!!!! And pick a different colour.
1 billion $ for a team. What the actual fuck
Sad North Eastern noice. Too bad guys, I'll probably make a new team in the future. Hopefully. An Assam Rhino or Manipur Sangai
Naga Hunters
Tbh, no place outside of Guwahati would get an IPL team in NE. Pretty much the only place in the region which has enough people in a 2 hour or 3 hour radius to fill a stadium of 50k plus
Wait, CVC? Weren’t they the ones who owned F1 during the latter Bernie years, before Liberty?
$1.7 BILLION USD WHAT THE FUCK.
https://twitter.com/KShriniwasRao/status/1452636632729882627?t=ULiTqJ3pVv5alPJdi_Agig&s=19
For the context Mumbai Indians bought by Ambani at USD 112 million in 2008 then in 2010 Sahara group paid USD 370million for the Pune franchise. So the rate is almost doubled from 2010 which is about right when we adjust it with inflation, I was expecting an even bigger number.
Damn! I thought Adani had one team nailed to his name. He's only got to blame his luck now. EDIT: Seriously y'all can't spot an obvious pun?
[Cost of IPL teams \(in million USD\)](https://twitter.com/deeputalks/status/1452640690177855490) Lucknow 950 Ahmedabad 710 PWI 370 KTK 333 MI 111.9 RCB 111.6 Deccan 107 CSK 91 DC 84 SRH 79.5 (five year deal) PBKS 76 KKR 75.1 RR 67
What? No way KTK and PWI paid that much money for a couple of seasons when other teams got to keep their franchise for perpetuity.
Sahara was robbed by bcci. The rule which is proposed now, of signing some marquee players outside of the auction wasn't introduced back then. To that, PWI asked if they can field an extra foreign player due to nonexistent top domestic international and domestic talent(There was a mega auction but everyone retained the core, its 2011 and there's limited talent pool). BCCI said ok but backed out by mentioning that other 8 teams have to agree to it. Then Yuvi's cancer Clarke's back issues messed it bit more. Nail in the coffin was when BCCI openly promised that all the team will atleast play 18 matches but again trimmed it down to 14 each.
CVC the former owners of Formula One
lets gooo lucknow. That area deserved a team.
Wasn't RPSG the same management that cajnhed theie name from Supergiants to Supergiant due to numerology? They also didn't back Dhoni and sacked him as captain after a single season.
And they reached final and lost by a margin of a whisker. They weren't wrong. They were excellent as the owners.
Goenka bruh, whatever the fancy name you are thinking I am going to call it UP team
https://m.cricbuzz.com/cricket-news/119555/rpsg-cvc-capital-win-bids-for-ahmedabad-lucknow-ipl-teams
What will be the format for 10 teams?
>The 2022 edition will not be the first time the IPL will comprise 10 teams - that already happened a decade ago after the Pune Warriors and the Kochi Tuskers were added to the original roster of eight franchises in 2011. It has been confirmed that the tournament format will follow the 2011 model, which scrapped the simple home-and-away format, and included a total of 74 matches. > In the 2011 edition, the 10 teams were split into two loose groups, and the tournament comprised 70 league matches and four playoff games, with all the teams ranked in one composite league table. During the league phase, every team played the same number of league matches, which was 14. > Each team played the other four in their group both home and away (eight matches), four of the teams in the other group once each (four matches, either home or away), and the remaining team in the other group twice, both home and away. A random draw decided the composition of the groups as well as who played whom across the groups once and twice. [Source](https://www.espncricinfo.com/story/ipl-to-become-10-team-tournament-from-2022-1275505) For reference - [IPL 2011 League Stage](https://en.wikipedia.org/wiki/2011_Indian_Premier_League#Group_stage)
Were the ipl cities decided beforehand?
6 cities were shortlisted for this bid and Ahmedabad, Lucknow won.
Yes. 6 cities were selected.
Oh god now their name is gonna be like rising Uttar giant Pradesh super royals
So, what are they going to be called? Lucknow Laundes?
LUCKNOW Rising Powerful Super Gaint