Have some unfinished business IPL: RPSG group owner Sanjeev Goenka on return with Lucknow franchise

master

October 26, 2021

KEY STORY

The bidding for the two new teams of the Indian Premier League (IPL) 2022 came to an end on Monday with two new teams announced. Owner of the RPSG Group, Sanjiv Goenka, successfully bid for one of the two new franchises, being the Lucknow franchise, shelling out a jaw-dropping amount of Rs 7090 crore.
Sajiv Goenka expressed his happiness to return to the IPL. He also added that they specifically went after Lucknow and wanted the city. With this, the RPSG Group marks its return to the IPL, as they previously owned the Rising Pune Supergiant franchise in the 2016 and 2017 editions of the cash-rich T20 league.
The RPSG Group owner had an interaction with the Times of India after the Board of Control for Cricket in India (BCCI) confirmed the two new IPL sides. Speaking to TOI, Mr. Goenka said, “This is just the beginning. The real intention is to build a team which can win the tournament. If you recall, Rising Pune Supergiant had lost the 2017 final to Mumbai Indians so we have some unfinished business in the IPL.”
The bid by RPSG Group was more than 250% of Rs 2000 crore, which was the base price set by the BCCI. The amount will have to be paid over a 10-year period. “Seen in that light I am extremely satisfied with how things transpired. The valuations can only increase. It’s simple economics.
“What I eventually have to pay is the difference between what I get from BCCI by way of broadcast rights etc and what I pay to them as license fees. Seen in that light, the figures are realistic. The BCCI conducted proceedings in a transparent manner,” Goenka added. Being a passionate sports lover, he also has stakes in the Indian Super League football team ATK Mohun Bagan.

CONCLUSION

Mr. Goenka was pleased with Lucknow as the city of choice. He stated that they particularly wanted the city due to business interests and also seeing it as an opportunity to further develop the immense interest in the sport of cricket already present in Lucknow. “A name for the franchise is yet to be decided and we will wait for the BCCI’s retention policy to be announced before finalising a strategy for the auction,” he concluded.
The franchise will begin its search for a head coach right away as they gear up for the upcoming mega auctions ahead of IPL 2022.