IPL New Teams: Sourav Ganguly not surprised with bidding amounts; Sanjeev Goenka expecting team’s valuation to go up by few times in 10 years

The BCCI on Monday chose the new owners for the two teams for the next edition of the Indian Premier League. Ex-IPL franchise RPSG owner Sanjeev Goenka got hold of the Lucknow-based franchise while CVC capital was chosen as the new owner for the Ahmedabad-based franchise. BCCI President Sourav Ganguly reacted to the whopping bidding numbers and said he is not surprised at all. Meanwhile, Sanjeev Goenka explained the reason behind such a big investment.

“We were not surprised actually, this (IPL) is a big brand and we are extremely happy that Indian cricket is moving forward. That is what is important for us. Congratulations to Sanjeev and CVC for being number one and number two but we look at Indian cricket and that’s what our job is. The more Indian cricket prospers, the better it is.”

“All the money goes back to Indian cricket. That’s what we are here for, we want Indian cricket to go forward and it has gone a long way forward in the last few years. This is the 14th season of IPL and the brand has grown and I think it is a great sign for us,” BCCI President added.

“We do believe that the valuations of this will go up in the future. And from what we invest, to what it could be over a period of 10 years would be a multiple of a few times,” chairman of RPSG Group Goenka, who is also the principal owner of ATK Mohun Bagan in ISL, said here.

“Frankly it’s something that I’ve been keen on for a while. When the opportunity presented itself we took it. IPL has created some of the biggest brands. Look at Mumbai Indians, Delhi Capitals, Chennai Super Kings and look at some of the others, they are really household names, some of the biggest brands the country has.”

“Firstly, it feels good to be back in the IPL. But this is just the first step. Now, it’s really for us to build a good team, and try to put up a good performance.”

“So the work really begins now in terms of actually getting the coach, putting together a team, and getting a sense of discipline and performance into play.”

“If wishes are horses… We don’t know yet. It would depend on retention policy and who are the available players, then only we can decide on our key players,” he signed off.

Meanwhile, IPL Governing Council (GC) chairman Brijesh Patel stated ANI: “We had nine bidders, all of them were qualified.”

“CVC group quoted 5,625 crores for Ahmedabad and 5,116 crores for Lucknow. RP Goenka ventures quoted 7,090 crores for Ahmedabad, For Indore 4,790 and for Lucknow 7,090 crores.”

“The highest was the Goenka group and they were highest for both Ahmedabad and Lucknow. And they preferred to take Lucknow as their franchise. CVC was second highest and they got Ahmedabad for 5,625 crores,” he informed.