Sanjiv Goenka's RPSG Group gets Lucknow franchise with over Rs 7,000 crore bid: BCCI source

Sanjiv Goenka-owned RPSG group has picked up Lucknow franchise with over Rs 7,000 crore bid, according to sources in BCCI. The RPSG group which is headlined by billionaire Sanjiv Goenka was considered to be a serious bidder for a new franchise. Whether RPSG would have any individual or other company as a part of the consortium is still not known.

The Governing Council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) document on August 31, 2021. The interested parties had to pay a non-refundable tender fee of INR 10,00,000 plus any applicable Goods and Services Tax.

There were 22 companies which had picked up tender documents worth Rs 10 lakh but with a base price for new teams pegged at Rs 2000 crore, there were only five to six serious bidders in the fray. The BCCI had allowed a consortium of up to three companies/individuals to bid for a franchise.


The BCCI on September 21 announced that they have decided to extend the purchasing date for the Invitation to Tender (ITT) for the right to own and operate one of two proposed new IPL team documents till October 20 from the original deadline of October 5.