BCCI mops up over Rs 12,000 crore as RPSG Group, CVC Capital bag two new IPL teams

RPSG Group has bagged the Lucknow franchise and CVC Capital has won the Ahmedabad franchise

e4m by exchange4media Staff
Published: Oct 25, 2021 7:55 PM  | 6 min read

RP Sanjeev Goenka (RPSG) Group and Irelia Company Pte Ltd. (CVC Capital Partners) have won the two new Indian Premier League (IPL) teams. RPSG Group has bagged the Lucknow franchise, while CVC Capital has won the Ahmedabad franchise. The BCCI has collected approximately Rs 12,715 crore from the sale of the two franchises.

RPSG has bid Rs 7090 crore to win the Lucknow franchise, while Irelia Company Pte Ltd (CVC Capital Partners) bagged the Ahmedabad franchise with a winning bid of Rs 5625 crore. The Adani Group lost the Ahmedabad franchise narrowly with a bid of Rs 5100 crore.

Apart from Adani, Amrit Lila Enterprises, Avashya Corporation, Capri Global, Torrent Sports Ventures, Hindustan Media Ventures, and Championship Cricket LLLC (Lancer Capital - Avram Glazer) also lost out in the bidding war. Each of these six bidders had put in less than Rs 5000 crore bids.

Rhiti Sports, which represented former India captain MS Dhoni, was disqualified. The tender document was picked up 22 companies including Adani Group, RP Sanjiv Goenka, Kotak, Torrent Pharma, Aurobindo Pharma, Lancer Capital (Avram Glazer owner of Man United), and Naveen Jindal.

The new franchises will participate in IPL from 2022 season onwards, subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches.

BCCI President Sourav Ganguly said: The BCCI is happy to welcome two new teams from the next season of the Indian Premier League. I would like to congratulate RPSG Ventures Ltd. & Irelia Company Pte Ltd for being the successful bidders. The IPL will now go to two new cities in India, viz in Lucknow and Ahmedabad. It is heartening to see the inclusion of two new teams at such a high valuation, and it reiterates the cricketing and financial strength of our cricket ecosystem. True to IPL’s motto of ‘Where Talent Meets Opportunity’, the inclusion of two new teams will bring more domestic cricketers from our country to the global stage. The ITT process included two interested bidders from outside of India, which strongly emphasises the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalising the game of cricket. I am keenly looking forward to IPL 2022.”

BCCI Secretary Jay Shah said, “It is a momentous day for all of us and I formally welcome RPSG Ventures Ltd. and Irelia Company Pte Ltd. into the IPL fold. We had promised that IPL will be bigger and better from the 15th season and with Lucknow and Ahmedabad, we will take the league to different parts of India. The IPL has established gold standards for leagues across the world and remains a premium event on the sporting calendar as it has grown rapidly in a short span. Despite numerous challenges posed by COVID-19, the 13th and 14th seasons were completed, and the bids prove that interested parties have faith in BCCI and its hosting capabilities. I am thrilled for the people of Uttar Pradesh and Gujarat as the long wait is over, and they will now have their own IPL team. My best wishes to the two new teams.”

IPL Chairman Brijesh Patel said, “The level of interest among the interested parties prove that IPL is among the most sought-after sporting leagues in the world. We had bids from different parts of the world and from parties with diverse portfolios wanting to make a foray into the world of sports. I extend my heartiest congratulations to RPSG Ventures Ltd. and Irelia Company Pte Ltd. for securing the rights to operate the two teams. We had a wonderful 14th season and the 2022 season will see a new beginning.”

BCCI Treasurer Arun Singh Dhumal added, "The fact that winning bids were way above the base price set for the two new IPL franchises is a direct indication of the true value of the Indian Premier League. We received tremendous interest after the ITT was floated, with many conglomerates putting their hat into the ring. I congratulate RPSG Ventures Ltd. and Irelia Company Pte Ltd. for placing the highest bids and winning the rights to own the IPL teams. I also thank all the bidders for showing faith in the BCCI and IPL. This is the start of an exciting chapter, and I can’t wait for the big auction to see how the new teams shape up.”

The minimum bid amount for two new teams was Rs 2000 crore. The average net worth as well as the average turnover of each bidder for the last three years must be at least Rs 3000 crore. In case of a consortium bid, the average net worth and turnover for the last three years of each member of the consortium must be at least Rs 2500 crore.

Each prospective bidder was required to provide a bid security deposit of Rs 75 crore. The BCCI will return the bid security deposit to all unsuccessful Bidders without interest to such bidders. A bidder may bid for one or more of the new franchises/stadiums, but will be granted rights in relation to one franchise or stadium.

Subject to the successful allotment of two new franchises, the IPL will comprise 10 teams and a minimum of 74 matches from the 2022 season onwards. Star India, which owns the IPL media rights, will have to pay a higher fee to the BCCI for the 2022 season, which is also the last and final season of the current media rights cycle. The BCCI is planning to auction the next cycle of IPL media rights early next year.

As per the agreement between BCCI and Star India, the board had received Rs 4086.87 crore of the media rights payment in the first year and will receive Rs 3065.15 crore each in the subsequent years. In September 2017, Star India had paid Rs 16347.5 crore to acquire IPL media rights for five years till 2022. For IPL 2022, Star might have to cough up an additional Rs 715.2 crore for the additional 14 matches, at Rs 51.08 crore per match. With a Rs 3065.15 crore payout for 60 games, Star is paying an estimated Rs 51.08 crore per game for the IPL.

The Governing Council of the IPL had issued an Invitation to Tender (“ITT”) to acquire the right to own and operate 2 (two) new franchises. Pursuant to the tender process, various interested parties submitted their bids for the new franchises. The bids were submitted by the authorised representatives of the interested parties at Dubai today.

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playR is Punjab Kings' official fan merchandise partner for IPL

The partnership will bring fans Punjab Kings fan merchandise such as fan wear, caps, - cricket equipment, fitness and accessories

By exchange4media Staff | Mar 24, 2023 3:19 PM   |   2 min read


Punjab Kings today announced playR its as - Official Fan Merchandise - Partner - for, the upcoming Indian Premier League (IPL) onwards.

The partnership is aimed at helping fans show their support for the team, by providing them with exclusive fan merchandise and accessories. The partnership will bring fans around the world exclusive Punjab Kings fan merchandise such as fan wear, caps, - cricket equipment, fitness and accessories, the company said.

Each product has been designed keeping in mind the team’s identity and the logo. The collection includes t-shirts, cricket bats, balls, pads, gloves, fitness accessories and more- The merchandise is available for purchase on playR Punjab Kings website - and will also be available across leading stores globally -

playR started in 2021, currently retails in 100 plus retail stores globally and soon to touch 800 stores across the globe. It also retails from its dedicated e-commerce store, as well as on multi-brand online stores. playR specializes in apparel, sports equipment, bicycles, and accessories across sports, age and gender and lifestyle.

Commenting on the partnership, Satish Menon, CEO Punjab Kings shared, “We are thrilled to announce playR as our Global Official Fan Merchandise Partner. After months of research and careful consideration, we have selected playR which shares our values and commitment to quality. What is interesting is that playR as a brand already has a range of apparel and cricket equipment and they understand our requirements and work towards making sure that our brand reaches across platforms”.

"We are confident that this strategic alliance with Punjab Kings for India and the International market will bring success to both parties and the fans of Punjab Kings will surely love the merchandise. We look forward to many years of success together" said Ravi Kukreja Co-Founder, Director – playR.

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Croma announces partnership with Gujarat Titans

The electronics retailer has come on board as an official electronics partners

By exchange4media Staff | Mar 24, 2023 2:11 PM   |   2 min read


Croma has announced its partnership with Gujarat Titans, for the 2023 season as their Official Electronics Partner. 

The league is scheduled to commence on the 31st of March and culminates with the finals on the 28th May, 2023. The Gujarat Titans will play 14 riveting games over two months, including seven home games at the iconic Narendra Modi Stadium in Ahmedabad and seven away games in Bengaluru, Kolkata, Jaipur, Mohali, New Delhi, Lucknow, and Mumbai, respectively. 

Speaking on this partnership, Shibashish Roy, Chief Operating Officer, Croma - Infiniti Retail Ltd, said, “We are pleased to announce our partnership with Gujarat Titans. Cricket in India brings people together and creates unforgettable moments. Croma is excited to be the electronics partner for Gujarat Titans, a team that has thrilled audiences across the country. Through this partnership, we aim to celebrate cricket and our customer’s passion for the game.” 

Arvinder Singh, COO Gujarat Titans, said, “Gujarat Titans’ are committed to excellence both on and off the field – which is evident in the impact we made in 2022. We welcome Croma on this exciting journey and look forward to a great association. In tandem, we are committed to delivering quality consistently and maintaining a level of excellence.” 

Gujarat Titans have curated an exceptional squad of players for the upcoming season, featuring some of the world's finest cricketers, such as Captain Hardik Pandya, David Miller, Kane Williamson, Shubman Gill, Rashid Khan and many others. Titans are one of the most prominent teams in the league, with a loyal fan base that stretches across the nation. With their great squad of players and a formidable debut campaign, the team has quickly become a crowd-puller, captivating audiences with phenomenal performances. 

As part of this remarkable partnership, Croma will offer exciting deals and offers to customers nationwide. In Croma's stores, customers stand a chance to win incredible Gujarat Titans merchandise, while on Croma's social handles and stores in the match cities, users can participate in fun engagement activities and stand a chance to win tickets to matches in the cities mentioned above, along with fascinating Gujarat Titans merchandise.

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Jio unveils data plans ahead of IPL

The teleco is offering cricket plans with 3 GB data per day

By exchange4media Staff | Mar 24, 2023 10:16 AM   |   1 min read


Jio has unveiled its new data tariff plans ahead of IPL. Users can watch live matches through multiple camera angles in 4K clarity across screens.

Jio Cricket plan comes packed with the highest data offering – 3 GB/day plus additional free data vouchers to ensure a seamless streaming experience. In addition, Jio users can avail Cricket Data-add for an uninterrupted cricket viewing experience.

Speaking about the cricket plans, a Jio spokesperson said, "At Jio, we are committed to providing our customers with the best possible sporting experience. We understand the excitement around the cricket season in India, and thus have designed these exclusive plans and offers to ensure that our customers can enjoy the matches to the fullest without any hassle.

Many more such interesting announcements will follow in the next few days related to cricket and the immersive experiences that Jio has lined up for its users."


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Havmor Ice Cream becomes official ice cream partner for Gujarat Titans

Ropes in Hardik Pandya as brand ambassador

By exchange4media Staff | Mar 23, 2023 7:08 PM   |   3 min read


Havmor Ice Cream today announced its official partnership with the defending champions- Gujarat Titans. The brand which is subsidiary of the South Korean multinational conglomerate, LOTTE Confectionery Ltd. has also roped in cricketer Hardik Pandya as the face of the brand.

The brand unveiled their summer campaign, kicking off two TVC’s starring brand ambassador Hardik Pandya, wherein fans can see him savouring the richness of Havmor ice creams – be it in the living room, cricket stadium or a hospital bed. Playing around the tagline ‘It’s that good’, the delightful campaign reiterates how having a creamy and delicious Havmor ice cream loaded with nuts can transport one to a chilled and enjoyable world in any situation. With this association, the brand aims to create a sweet spot in the mind and hearts of consumers across the country, by bringing alive the role of ice creams as the go-to happiness partner any given day.

Shedding light on the association Komal Anand, Managing Director, Havmor Ice Cream said “At Havmor, we are consistently on the journey to delight the consumers with innovative offerings and flavors, and our partnership with Gujarat Titans Team is a perfect fit for us to bring alive this proposition. Just like Gujarat Titans established its stamp on the tournament in the very first maiden year, we are confident, that with this inspiring partnership we will further strengthen love for our brand amongst the Indian consumers.”

He further added, “Hardik Pandya is one of the most talented and eclectic players of this generation. It is just natural that we have him as our brand ambassador as we unveil our campaign – ‘It’s that good’.  Having him as the face of brand signifies the spirit of creativity, uniqueness and community love.”

Commenting on his association, one of India’s most loved and iconic cricketers, Hardik Pandya said, “Ice cream is one of my favorite comfort foods and I am excited to partner with Havmor who have consistently earned the love and trust of customers for over 75 years. Their lip-smacking flavors are all about ‘It’s that good’ experience for customers. I look forward to this partnership, especially indulging in some of their delicious and delightful ice creams.”

Adding to this, Arvinder Singh, COO Gujarat Titans, said, “Havmor is a top legacy ice cream brand from Gujarat and has created its identity all over India. The Gujarat Titans believe in building a brand based on excellence and we are delighted to partner with Havmor - looking ahead to a great association.”

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JBL named new brand and audio sponsor for Delhi Capitals

The team will wear the JBL logo on the helmet throughout IPL

By exchange4media Staff | Mar 23, 2023 12:13 PM   |   2 min read


HARMAN, a wholly owned subsidiary of Samsung Electronics Co., Ltd. today announced the sponsorship renewal of Delhi Capitals, one of the key teams participating in the T20 Cricket League 2023, through its popular audio brand JBL®. JBL had earlier collaborated with Delhi Capitals in the 2019 season.

This year, the company has collaborated with Delhi Capitals as the team’s headgear sponsor and their exclusive audio sponsor. As part of this brand collaboration, Delhi Capitals team will wear the JBL logo on their helmets throughout the entire duration of the tournament. 

Additionally, as the exclusive audio partner, JBL has also launched a 360-degree marketing campaign ‘Roar ka Shor’ - an extension of the Delhi Capital’s team anthem Roar Macha. This campaign will be accompanied with an extensive advertising push across traditional, digital as well as social media. JBL has also planned immersive on-ground engagements and activations with the viewers at the Arun Jaitly Stadium in New Delhi, as well as in stores at popular malls across the country.

“T20 League is undoubtedly the biggest sporting event in our country and JBL is excited to rekindle the association with Delhi Capitals, to multifold the energy and excitement in the arena. At JBL, we're all about pushing boundaries and taking entertainment to the next level, and our collaboration with Delhi Capitals and T20 League is a testament to that commitment. Our brand ideals match with Team DC’s prowess and this season JBL aims to create a sensory experience that will stay with the fans long after the final whistle has been blown”, says Vikram Kher, Vice President, Lifestyle, HARMAN India.

"We are thrilled to have JBL back as our official audio partner and headgear sponsor for the T20 League 2023. JBL is a brand that resonates with the energy and passion of Delhi Capitals, and we are confident that their cutting-edge audio products will enhance our match-day experience for players and fans alike”, said Dhiraj Malhotra, CEO, Delhi Capitals.

JBL audio has always been about carrying your entertainment with you, whether it’s a headphone, true wireless earbuds or bluetooth speakers. You can carry your cricket match with you while commuting to work, hosting a watch party at home with family and friends all while you stream the match and enjoy it on the JBL SoundBars or have a watch party on the terrace with JBL speakers.

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IPL became India’s first unicorn in 2008 at $1.1 billion valuation: Report

An analysis by D&P Advisory 'IPL: The Pioneer of Indian Unicorns' said that the valuation of the league has steadily increased since the year of its inception

By exchange4media Staff | Mar 23, 2023 8:55 AM   |   2 min read


A news report quoting D&P Advisory’s latest analysis of the Indian Premier League said that the cricketing tournament was India’s first unicorn, valued at $1.1 billion in 2008, the year of its inception.

"It is interesting to note that of the earliest set of unicorns that exist today (100 odd unicorns in India currently) like InMobi (2011) and Flipkart (2012), IPL (2008) is the oldest of the current set of Unicorns. It should also be noted that this unicorn is the most profitable of all the startups out there," said the adivsory.

The advisory, which revealed in December that IPL became a decacorn (valued at $10.9 billion) recently, is set to release a new analysis titled “IPL: The Pioneer of Indian Unicorns.”

The study takes into account media rights, title sponsorship and associate sponsorship values of IPL to peg its total value over the years before 2014.

"Media Rights have emerged as the most significant source of revenue for the IPL. The league’s ability to attract large viewership and engage fans has helped it to command premium prices for its media rights. As the number of matches has increased over the years, the total value of media rights has also gone up significantly," said the study. 

According to the report, the analysis by D&P pointed out that the broadcast rights of the tournament raked in Rs 486 crore in 2008. The title and associate sponsorship rights also brought in Rs 36 crore and Rs 48 crore, respectively.

Since then, IPL valuation has steadily increased based on its higher broadcast and sponsorship fee year after year, says the report. In 2009, its valuation rose to $1.7 billion; in 2010, it further jumped to $2.2 billion when the league comprised 60 matches. When the number of games increased to 74 in 2011, IPL valuation rose to $2.7 billion.

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Rajasthan Royals unveils new jersey for IPL 2023

The new short-sleeved polyester jersey is available for pre-order on Rajasthan Royals’ official website

By exchange4media Staff | Mar 22, 2023 1:23 PM   |   2 min read


The newly launched JERSEY OF THE SEASON was formally unveiled in Jaipur amidst players from Rajasthan Royals, Ms Preeti Bajaj, Managing Director and Chief Executive Officer, Luminous Power Technologies and Neelima Burra, Senior VP and Chief Strategy, Transformation and Marketing Officer and Mr. Amit Shukla, Senior VP - Energy Solutions Business today were present at a press conference. 

Royals Sports Group-owned franchise Rajasthan Royals has announced India's leading energy solutions provider, Luminous Power Technologies as the team's Title Sponsor for the upcoming season of the Indian Premier League (IPL) which is set to begin from 31st March 2023. Having previously extended their support to the sport through in-stadium and linear TV partnerships, Luminous is re-entering the IPL space with this partnership with the Royals for the 2023 season. 

The new short-sleeved polyester jersey will cost ₹1,799 and is available for pre-order on Rajasthan Royals’ official website. It is usually delivered within two weeks and gives the option to choose cash-on-delivery. It also offers a 10-day return or exchange policy. The purple variation of the RR jersey is available at ₹1,299. 

Commenting on the association, Jake Lush McCrum, Chief Executive Officer, Rajasthan Royals, said, “Luminous is a brand driven by innovation and technology which is central to what drives success for our franchise. Talking about the Rajasthan Royals’ jersey of IPL 2023, pink is again the primary colour keeping in line with the tradition and the identity of Jaipur, the ‘Pink City’." 

Ms Preeti Bajaj, Managing Director & Chief Executive Officer, Luminous Power Technologies, quoted: “With over 35 years of expertise in creating innovative and technology driven products for our consumers, Luminous is one of the most reputed and reliable brands in India. This exciting partnership with Rajasthan Royals provides us with the opportunity to keep scaling and creating a tangible impact on our current and potential consumers. We have been associated with cricket in the past through other associations, and with this partnership with Rajasthan Royals, we aim to reaffirm our commitment to innovation and technology, and also promote exponential growth for the business leveraging the Royals' domestic and global presence." 

The Rajasthan Royals squad, which includes international and domestic stars from across the world who have been at the forefront of using technology and innovation in their game, will be kick-starting their 2023 campaign in Hyderabad on 2nd April 2023.


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