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The Board of Control for Cricket in India (BCCI) on Monday announced that RPSG Ventures Ltd. and Irelia Company Pte Ltd. (CVC Capital Partners) have won the ownership rights of Lucknow and Ahmedabad teams in the Indian Premier League (IPL). The RPSG Ventures Ltd. were awarded Lucknow as their home base with a winning bid of a whopping Rs 7,090 crore. CVC Capital Partners took Ahmedabad as its home base with a second-highest bid of Rs 5,625 crore.

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RPSG and CVC Capitals win Lucknow, Ahmedabad bids for new IPL teams