Lucknow Ipl Team Owner – Home » News » Business » IPL: Sanjiv Goenka returns with Lucknow for Rs 7,000 crore. A look at the new owner, plans for the future
Sanjeev Goenka’s RP Group had a short stint in the IPL when he owned Supergiants Rising Pune (Image via Twitter)
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RP Sanjiv Goenka Group was the owner of Rising Pune Supergiant during IPL 2016 and 2017. The franchise will now own the Lucknow team for IPL 2022
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The RP-Sanjiv Goenka group is back in the Indian Premier League (IPL) after four years. There has been much speculation of late as to who will win the bids to own the two new IPL teams that will take the stage from the 2022 Games. That speculation was put to rest on the evening of October 26 when the BCCI announced the names of the top two bidders, with the RPSG Group, which got on the list.
The Sanjiv Goenka-owned conglomerate bought the IPL franchise in Lucknow for Rs 7.09 billion, setting a record in the process. Another team to be based in Ahmedabad has been set up by Irelia Company Pte Ltd – CVC Capital Partners. The group released an amount of Rs 5,625 crore to win the bid to buy this upcoming team.
The auction for next year’s 15th edition of the Indian Premier League will be held in December.
The RP-Sanjiv Goenka group is not new to India’s most famous cricket league, the IPL. In 2015, when Chennai Super Kings and Rajasthan Royals were serving two-year bans from the league following their alleged involvement in a match-fixing scandal, the conglomerate formed a separate team, Rising Pune Supergiant. However, it was a short stint in the IPL for the company as the team only played for two seasons.
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RP-Sanjiv Goenka Group is a multi-billion dollar business conglomerate headquartered in Kolkata. Founded by Sanjiv Goenka, the younger son of Rama Prasad Goenka, on 13 July 2011, the group operates in various sectors. These include power and energy, carbon black manufacturing, retail, IT services, FMCG and infrastructure, among others. Some popular franchise brands include Power Major CESC Limited, music label SaReGaMa India Limited and multi-format retail company Spencer’s Retail.
RPSG owner Sanjeev Goenka is known for his passion for sports. The group is one of the owners of ATK-Mohun Bagan, formerly known as ATK-Kolkata. This football team is one of the top tier groups in the Indian Super League. The group also ventured into other sports, including table tennis. However, after a short and successful stint in the Indian Premier League, Goenka expressed interest in returning to cricket.
As mentioned earlier, the group had already fielded an IPL team for four years, but that didn’t last long. Disbanding Rising Pune Supergiant, the Kolkata-based business tycoon revealed that he will re-form the team “if the opportunity arises”, according to media reports. On Monday, shortly after the Board of Control for Cricket in India issued a statement. in India (BCCI) announced the winners, Goenka expressed his happiness in an interview to some news organizations. “This is the first step and now we need to build a good team and perform,” he told The Hindu Sportstar that day. In another interview, he revealed that the group prefers Lucknow over other teams.
So with this move, the RPSG franchise will finally enter their second attempt in the Indian Premier League, years after their crushing loss to Mumbai Indians in the last games of 2017.
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On future plans, Goenka told Moneycontrol, “Rs 7,000 crore is the cost of the company to be paid in 10 years, the first year payment is Rs 700 crore. In the same period, I expect to get more than Rs 3,500 crore Cricket Board Rs.”
Talking about the proposed ROI, Goenka also noted, “Five years from now, I expect it to be worth Rs 10,000 crore. A valuation of Rs 7,000 crore will rise to Rs 10,000 crore. So if you invest Rs 2,500 crore and after five years it becomes worth Rs 10,000 crore, that is a pretty good investment.”
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Swastika Das Sharma, Associate Editor at , has been part of Digital Media since 2020. She completed her post-graduation from the Asian College of J…Read moreCricketAhmedabad and Luckhnow – All you need to know about the new IPL teams. The Lucknow team has been acquired by the RP-Sanjeev Goenka Group (RPSG), the Ahmedabad-based company will be owned by CVC Capital.
Two New Ipl Teams: Meet New Franchises Gujarat Titans And Lucknow Super Giants Ahead Of 2022 Edition
Business tycoon Sanjiv Goenka and international investment firm Irelia Company Pte Limited (CVC Capital) have put up a total of 12.715 billion rupees (about $1.7 billion) to win bids for two new IPL teams, a windfall that exceeded BCCI’s expectations . here on Monday BCCI expected a combined bid in the range of Rs 10,000 crore but to its surprise won Rs 7,090 crore from the RP-SG Goenka group for the Lucknow franchise while CVC Capital shelled out Rs 5,625 crore for the Ahmedabad team .
Two new teams to compete in IPL 2022. PTI reported on Sunday that Goenka was one of the favorites to win the team after two years in the IPL in 2016 and 2017 when he owned Rising Pune Supergiants. “BCCI is pleased to announce the following successful bidders (subject to completion of final documentation and other formalities): 1. RPSG Ventures Ltd. – Lucknow (for Rs. 7,090 crore). 2. Irelia Company Pte Ltd. (CVC Capital Partners) – Ahmedabad (at a cost of Rs 5,625 crore),” the Board said in a press release.
The IPL 2022 season will consist of 10 teams and will have 74 matches in which each team will play seven home matches and seven away matches, the Board added. Goenka was happy to be back in the IPL and this time as a permanent owner and not an interim owner as was the case when he was in charge of the Pune franchise during suspensions involving CSK and Rajasthan Royals. “First of all, it’s nice to be back in the IPL. But this is only the first step. Now it’s up to us to build a good team and try to perform well. So, the work really starts now in terms of getting a coach, forming a team,” Goenka said after his company won the tender.
“IPL has created some of the biggest brands. Look at Mumbai Indians, Delhi Capitals, Chennai Super Kings and some others, they are really big names, some of the biggest brands in the country,” he added. Asked if Rs 7,000 crore is economically viable, Goenka opined, “We think the valuation of that will go up in the future. And from what we have invested, what could be in a 10-year period would be several times more.” He was also happy to have Lucknow as his base as the RPSG group has business interests in Uttar Pradesh. “We are distributing power in Greater Noida. We have several Spencer stores in the state. So we feel this will help connect us to the state and we are looking forward to it.”
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🚨 NEWS 🚨: BCCI announces winners of two new Indian Premier League franchises Read more 🔽https://t.co/FSU4LsAxzj — BCCI (@BCCI) October 25, 2021
BCCI president Sourav Ganguly was happy that the IPL is spreading everywhere. “IPL will now be held in two new cities in India namely Lucknow and Ahmedabad. It is great to see the inclusion of two new teams with such a high ranking and once again underlines the cricketing and financial strength of our cricket ecosystem,” Ganguly. – he said in a press release. “The ITT (invitation to bid) process included two interested bidders from outside India, which strongly emphasizes the global appeal of the IPL as a sports property,” he added.
BCCI Secretary Jay Shah also welcomed the two new companies. “This is a momentous day for all of us and I officially welcome RPSG Ventures Ltd. and Irelia Company Pte Ltd. as part of the IPL. We promise that IPL will be bigger and better from season 15 and with Lucknow and Ahmedabad it will last. references to different parts of India,” Shah said. It was a nearly seven-hour long process that led to the BCCI announcing the winners after a rigorous vetting process that included a technical audit followed by the opening of the tender’s financial documents.
The companies that cleared the final round of technical screening to be eligible to bid were RP-SG, Adani Group, HT Media Private Limited, Torrent Pharma, Aurobindo Pharma, All Cargo, CVC, Kotak group in consortium and Glazers. Manchester United through its capital campaign. Rhiti Sports, best known as the former captain of the Indian team
