CVC Capital and RPSG Group to acquire BBCI and Ahmedabad teams for $1.7bn.

CVC Capital, a private equity firm, and RPSG Group, an Indian multinational conglomerate, agreed to acquire two cricket teams BBCI and Ahmedabad for $1.7bn. "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," Sourav Ganguly, BCCI President.