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<keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword> franchise owners of teams like Mumbai Indians, Chennai Super Kings, Lucknow Super Giants, <keyword id="1494441" type="General" weightage="50" keywordseo="sunrisers-hyderabad" source="Orion">Sunrisers Hyderabad</keyword>, Rajasthan Royals and co-owners of Delhi Capitals on Wednesday were announced as winners of purchasing all six teams in South Africa's upcoming new T20 <keyword id="1910" type="General" weightage="100" keywordseo="league" source="Orion">League</keyword>. Through an official statement, Cricket South Africa (CSA) said that the six franchise owners were confirmed following a rigorous process over the past few months. The open bid process, managed by Deloitte Corporate Finance, attracted over 29 entities who expressed interest in owning a franchise worldwide. Over 10 venues were made available for interested bidders to own a franchise and all 10 of them received expressions of interest. <keyword id="45442" type="General" weightage="50" keywordseo="reliance-industries-limited" source="Orion">Reliance Industries Limited</keyword>, owners of Mumbai Indians, will operate the Cape Town team based at Newlands while <keyword id="14506281" type="General" weightage="50" keywordseo="rpsg-sports-private-limited" source="Orion">RPSG Sports Private Limited</keyword>, owners of Lucknow Super Giants, bought the Durban franchise based at Kingsmead. Sun TV Network Limited, owners of Sunrisers Hyderabad, picked Gqeberha (formerly Port Elizabeth) franchise with home venue at St George's Park while Chennai Super Kings Cricket Limited, owners of Chennai Super Kings, acquired the Johannesburg franchise with base at Wanderers. <keyword id="14506282" type="General" weightage="50" keywordseo="royals-sports-group" source="Orion">Royals Sports Group</keyword>, owners of Rajasthan Royals, bought the Paarl franchise based at Boland Park while JSW Sports, co-owners of Delhi Capitals, bought the Pretoria franchise based at SuperSport Park. Graeme Smith, the Commissioner of the new T20 League in South Africa, welcomed all the new franchise owners of the league. "We are thrilled to welcome our new franchise owners to the <keyword id="377670" type="General" weightage="50" keywordseo="south-african-league" source="Orion">South African League</keyword> taking place in January and February 2023. This is truly an exciting time for South African cricket; the overwhelming interest shows that the country remains valued in the global cricketing eco-system. "A robust bidding process was followed to select the final six owners, the decision was informed by a scorecard based on various criteria to ensure the utmost professionalism, independence, and objectivity to the process. I would like to thank Deloitte as our advisors for doing a thoroughly professional job in helping South African cricket find partners who add substantial value to our game. "The strong sports background of the respective owners and the global brands they manage ensures that South African cricket and the broader industry will benefit from their expertise and resources, as they bring stability and experience to the League." The move means that the global expansion of the IPL franchises is moving at a fast pace. Fans in South Africa will have the opportunity to watch word-class cricketers, catch a glimpse of the next generation and experience the action first-hand when the festival takes off early next year. Smith concluded by hinting at announcing the international players of the new T20 League in near future. "We have already contracted a number of leading international players who will be announced shortly. Combined with our strong South African player base, fans and stakeholders can be assured that the new League will showcase exciting talent and skill." The upcoming T20 League, which CSA will organise in association with broadcasters SuperSport in the form of a new company, will be the third time South Africa would be attempting to launch a franchise T20 league in the country. In its previous attempts, the attempt to start Global League T20 failed to happen in 2017, while its replacement, the Mzansi Super League was held in 2018 and 2019 but didn't get the big broadcast rights, with the free-to-air South African Broadcasting Corporation (SABC) getting broadcast rights for a much smaller sum, before being halted by Covid-19 pandemic. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/redmi-k50i-mobile-phone-review/articleshow/93001395.cms">Redmi K50i review</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/netflix-is-losing-subscribers-and-hotstars-hybrid-model-can-be-right-choice-for-ott-platform/articleshow/93000111.cms">OTT platforms can survive in the Indian market if they go the Hotstar-way</a>

IPL franchise owners purchase all six teams in South Africa's upcoming new T20 League

<ul><li>The Sanjiv Goenka-led RPSG group has bagged the Lucknow franchise of the IPL.</li><li>Goenka is happy about the purchase and confident that the investment will be profitable.</li><li>Here’s everything you need to know about the Kolkata-based business tycoon.</li></ul>The Sanjiv Goenka-led RP-Sanjiv Goenka Group (RPSG) has bagged the new Lucknow franchise in the cash-rich Indian Premier League (IPL) for a whopping ₹7,090 crore – close to a billion dollars – marking a return for the company to the world's biggest T20 league. The RPSG group was founded by <keyword id="6355523" type="General" weightage="20" keywordseo="sanjiv-goenka" source="Orion">Sanjiv Goenka</keyword> in 2011, after RPG Enterprises, founded by his father Rama Prasad Goenka, was divided between Sanjiv and Harsh Goenka. The RPSG group is a Kolkata-based conglomerate and its major businesses include CESC, a power generation and distribution company, the 120-year-old music company Saregama and the recently launched snacks brand Too Yumm! The company also operates Spencer’s retail chain, Nature’s Basket, Woodlands Hospital, Harrisons Malayalam and several other companies, making it a total of 22 companies. According to <a href="https://www.forbes.com/profile/sanjiv-goenka/?sh=541d14966301">Forbes</a>, Sanjiv Goenka has a net worth of $2.7B (approx. ₹20,250 crore). The RPSG group reported a revenue of ₹26,634 crore as on March 31, 2021 and has assets worth over ₹47,000 crore. <cmsannotation type="cmsannotation" annotationid="Goenka’s love for sports" comment="subhead" text="Goenka’s love for sports">Goenka’s love for sports</cmsannotation> For Sanjiv Goenka, winning the bid for Lucknow may not be just an investment. Goenka’s love for sports is evident from his other ventures as well. <div type="image" title="E5E3B7AD-FE67-4B15-87BE-3FE36E975B49" msid="87277605" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka with Robbie Keane.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka holds a stake in the ATK Mohun Bagan football club, which is a part of the Indian Super League (ISL). Sourav Ganguly, the president of the Board of Control for Cricket in India (BCCI) is also a co-owner of the ATK Mohun Bagan. The group is also involved in table tennis and owns the RPSG Mavericks Kolkata, which is part of India’s biggest table tennis league, the Ultimate Table Tennis League. <cmsannotation type="cmsannotation" annotationid="Sanjiv Goenka’s second stint in IPL" comment="subhead" text="Sanjiv Goenka’s second stint in IPL">Sanjiv Goenka’s second stint in IPL</cmsannotation> <div type="image" title="4A1F6760-2CCE-41A2-A1E1-4D8BDC7B4640" msid="87277431" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka in Rising Pune Super Giants jersey.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka’s RPSG is no stranger to the Indian Premier League – it had a two-year stint in the IPL after it bagged the Rising Pune Supergiant franchise for IPL 2016 and 2017, after Chennai Super Kings and Rajasthan Royals were suspended from the tournament for two years. Since 2017, Goenka has been eyeing a return to the IPL. In 2016, the team had an average outing, ending up seventh on the table with just five wins. After this, Goenka took the bold decision of dropping Mahendra Singh Dhoni from captaincy and handed over the reins to Steve Smith. This decision turned out well for the team and the team went on to the finals, losing the title to Mukesh Ambani’s Mumbai Indians by the barest of margins – just 1 run. Goenka has returned to IPL with the acquisition of IPL’s latest franchise, Lucknow. The RPSG group had bid for Lucknow, Ahmedabad and Indore. <cmsannotation type="cmsannotation" annotationid="We’ve done our math, says Goenka" comment="subhead" text="We’ve done our math, says Goenka">We’ve done our math, says Goenka</cmsannotation> Soon after the BCCI announced that the RPSG group had won the bid for the Lucknow franchise, Goenka spoke to Cricbuzz. Here are some of the key takeaways from the <a href="https://www.cricbuzz.com/cricket-news/119559/weve-done-our-math-sanjeev-goenka-after-7090-cr-bid-cricbuzzcom">interview</a>. Speaking about why the group selected Lucknow despite winning the bid for both Ahmedabad and Lucknow, Goenka said, “We have operations in Uttar Pradesh. We do power distribution there. We have a very big presence in the northern state. Closer by in Chandigarh, we have the power distribution rights. So for North India, that becomes like a hinterland.” Goenka also revealed the math behind the decision to bid over ₹7,000 crore for the team. “I will probably be paying only ₹3,500 crore in 10 years. It is because I will be getting ₹3,500 crore from the BCCI from the broadcast rights. In the next five years, I may get more [from the BCCI]. The net present value of that is ₹2,100 crore. That means I have got an IPL team for ₹2,100 crore. Tell me, is it good or not?”. In an <a href="https://www.moneycontrol.com/news/business/expect-lucknow-ipl-team-to-command-rs-10000-crore-valuation-in-5-years-rpsg-groups-sanjiv-goenka-7625691.html">interview</a> to Moneycontrol, Goenka revealed that he expects the franchise to be worth over ₹10,000 crore in five years. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a>

Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

The new Ahmedabad-based <keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword> team, owned by CVC Capital, will be called <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> Titans, the franchise revealed on Wednesday, days ahead of the mega auction. The naming of the Ahmedabad franchise comes days after the Lucknow-based team announced its official name as Lucknow Super Giants. Both Ahmedabad and Lucknow are two new entrants to the IPL and were bought by CVC Capital Partners (Irelia Company Pte Ltd) and RPSG Group respectively, last October. "Debuting in the 15th season of the IPL, the Gujarat Titans will pay tribute to the state's rich cricketing legacy, which has seen it produce countless Indian international cricket legends over the years," the franchise said in a statement on Wednesday. "The franchise is inspired by the opportunity to represent and build on this deep cricketing heritage, as well as build on its future success on the pitch," it added. India all-rounder Hardik Pandya (Rs 15 crore) will lead the Ahmedabad team while they have also picked Rashid Khan (Rs 15 crore) and Shubman Gill (Rs 8 crore) via drafts ahead of the auction. It will be only the second IPL team for all three players, with Rashid coming over from Sunrisers Hyderabad, Gill from Kolkata Knight Riders, and Pandya from Mumbai Indians. This will also be the first time Pandya will lead an IPL franchise. Titans have also named their coaching staff comprising Ashish Nehra (head coach), Gary Kirsten (mentor and batting coach) and Vikram Solanki (director of cricket). The trio has worked together for Royal Challengers Bangalore previously. Titans' home stadium will be the Narendra Modi Stadium in Ahmedabad, the world's largest cricket stadium. "We want this group to achieve great things for Gujarat and its many passionate fans, which is why we have chosen the name Titans," Siddharth Patel, a partner at CVC, said. "As we approach the league's mega auction, we are confident that we will be able to put together the right combination of players going into the new season. We want individuals that are not only highly skilled but who are inspired to be Titans of the game. "We look forward to starting on our journey with the passion and support of the people of Gujarat, and hope to inspire and win over new fans from all over India and the world," he added. Titans will have Rs 52 crore in their purse for the auction, scheduled to be held in Bengaluru on February 12 and 13. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/bharti-airtel-vedanta-irctc-among-top-stocks-to-watch-out-on-february-9/slidelist/89444055.cms">Bharti Airtel, Vedanta, IRCTC among top stocks to watch out on February 9</a> <a href="https://www.businessinsider.in/cryptocurrency/news/avalanche-price-rises-as-bitcoin-ethereum-and-other-cryptocurrencies-fall/slidelist/89443437.cms">Crypto relief rally ends but Avalanche is still keeping its head above water</a> <a href="https://www.businessinsider.in/stock-market/news/inox-green-energy-will-be-using-7-out-of-10-from-the-ipo-to-repay-its-debts/articleshow/89439043.cms">Inox Green Energy will be using ₹7 out of ₹10 from the IPO to repay its debts</a>

Ahmedabad-based new IPL franchise to be called Gujarat Titans

The Indian cricket board will be expecting the two new <keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword> franchises to go for Rs 7000 crore to Rs 10,000 crore each after the bidding process begins here on Monday. It is still not clear whether the BCCI will announce the successful bidders on Monday itself after doing the technical evaluation of the bids. There are 22 companies which have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in fray. The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise. However, in case of an individual or company, that particular entity's annual turnover should be minimum INR 3000 crore and in case of consortium, each of the three entities should have an annual turnover of INR 2500 crore. In this scenario, one of India's richest business tycoon <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> and his Adani Group are expected to bid for the Ahmedabad franchise. Adani Group, if they finally put up a bid, are the favourites to own a new franchise. Similarly, RPSG group which is headlined by billionaire Sanjiv Goenka are also considered to be serious bidders for a new franchise. Whether RPSG would have any individual or other company as a part of consortium is still not known. "Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don't forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore). "So the economics will work accordingly as franchises get the TV revenue share equally," a BCCI insider tracking the developments told PTI on conditions of anonymity. For the record, Goenka owned the <keyword id="12377413" type="General" weightage="20" keywordseo="pune-franchise-rising-pune-supergiants" source="Orion">Pune Franchise Rising Pune Supergiants</keyword> (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan. There has been buzz that Lancer group, which is owned by Manchester United owner Avram Glazer, has also picked up the bid document. The other notable companies which are in fray comprise Kotak group, pharmaceutical majors Aurobindo Pharma and Torrent group. The two cities that are favourites in terms of stadium capacity are <keyword id="10818893" type="General" weightage="20" keywordseo="narendra-modi-stadium" source="Orion">Narendra Modi Stadium</keyword> in Motera with more than 100,000 capacity while the other is Ekana Stadium in Lucknow with 70,000 capacity. The other cities in the hunt are Indore, Guwahati, Cuttack, Dharamsala and Pune. Former India cricketer may join one of the consortium A former India opener may join one of the consortiums which is expected to be serious bidders for the new franchises. "Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team. "He is a distinguished player in his own right and also understands how the franchisee universe works," the BCCI source said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/chip-shortage-hits-new-brands-in-tough-indian-laptop-market/articleshow/87234868.cms">Chip shortage hits new brands in tough Indian laptop market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hiked-again-by-35-paise-for-fifth-consecutive-day-across-the-country/articleshow/87234812.cms">Petrol and diesel prices hiked again by 35 paise for fifth consecutive day across the country</a>

You Searched For "rpsg ipl team" and got 4 results

IPL franchise owners purchase all six teams in South Africa's upcoming new T20 League

IANS

Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

Rounak Jain

Ahmedabad-based new IPL franchise to be called Gujarat Titans

IANS

New IPL teams: BCCI expecting anything between ₹7,000-₹10,000 crore with Adani, Goenka, Aurobindo in fray

PTI

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