IPL 2022 Updates: On the Two New Teams and Upcoming Auction

The Indian Premier League is considered the second-largest cricket event worldwide next to the World Cup which just recently concluded. Even before the recent IPL season has concluded, people are already talking about the upcoming fifteenth edition which will have two new teams as part of the tournament.

The two new IPL teams were named just three weeks ago after the auction that took place in the UAE. Ahmedabad was secured by the CVC Capital Partners and the RPSG Group was able to win the bid for Lucknow. Here’s the breakdown of the bids placed by a total of 9 groups for the two new teams.

Based on the agreement, the new teams will be able to participate in the UPL from the upcoming season onwards but this is also subject to the bidders completing the post-bid formalities that were specified in the ITT document. And with that, the upcoming 2022 season will have a total of 74 matches with 7 home and 7 away matches. That’s plenty of matches that cricket fans can look forward to.

The 2022 edition of the IPL is scheduled to run from March 27, 2022, until May 21, 2022. Cricket fans still have the time to learn more about the teams and the new franchises that participated before they place their bets once again. They also have more time to go through the India betting sites reviews to learn more about the best bookies where they can place their bets. The tournament is also set to kick off at the M.A. Chidambaram Stadium in Chennai.

More on the Two New Teams

The president of the Board of Control for Cricket in India, Sourav Ganguly, welcomed the new teams in a statement. 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.”

Meanwhile, BCCI secretary, Jay Shah, also released his statement to welcome the new teams. Shah said, “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.”

Both CVC and RSPG Ventures expressed that they are also elated about being a part of the prestigious Indian Premier League. CVC expressed that they have been highly motivated to invest in Indian cricket. The director of the Centre for Eurasian Sport Industry at Lyon-based Emlyon Business School, Simon Chadwick, spoke about CVC’s move in the cricket industry.

Chadwick pointed out that cricket is already gaining traction in the United States. He said, “CVC’s investment into Indian cricket may serve as a prelude to them seeking to establish a first-mover advantage in US cricket.”

Upcoming 2022 IPL Auctions

Now that the two new IPL teams have been determined, the craze and talks about the upcoming season haven’t died out. It was recently revealed that when it comes to player retention, the eight old teams will be able to retain up to four players but they won’t be able to retain more than two overseas players.

The new teams can then pick three players (maximum of 2 Indian players) just before the mega auction. A source said that the deadline given to the new teams to pick three players is December 25.

When it comes to the maximum purse for the eight teams, it has been fixed at Rs 90 crores which is 5 crores higher compared to what they had during the last mega auction. Rules are set for this, however, and the teams should note that if they retain four players, a total of Rs 42 crores will be deducted from their purse. The top player will then get Rs 15 crores.

If the team retains three players, Rs 33 crore will be deducted from their purse. Meanwhile, if they choose to retain two players, Rs 14 crore and Rs 10 crore will be deducted for both players. Retaining one player will require them to shell out Rs 14 crore.

There is no date yet as to when the Mega Auction will take place but the BCCI has already confirmed that it should take place during the last week of December 2021. The exact date is expected to be announced soon.