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<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 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>

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

Kolkata, <keyword id="13839" type="General" weightage="20" keywordseo="Gautam-Gambhir" source="Orion">Gautam Gambhir</keyword> on Wednesday was named 'Mentor' of Shah Rukh Khan-owned-Kolkata Knight Riders, an IPL franchise that won its two championships under his able leadership back in 2012 and 2014. Gambhir, the hero of India's T20 and 50 over World Cup victories, had led KKR from 2011 to 2017 before parting ways and for the past two seasons was at helm of Lucknow Super Giants as their 'Mentor. Lucknow qualified for play-offs during both seasons but were unable to go the distance which prompted the franchise to bring in former Australian opener and T20 World Cup winning coach Justin Langer. Once the Sanjiv Goenka-owned franchise roped in Langer, Gambhir's exit was always on the cards. While both LSG and Gambhir vehemently denied the move for longest time, a lengthy meeting in Bollywood superstar's Mumbai home had created a lot of buzz about his apparent move, which finally turned into a reality. Venky Mysore, the all-powerful CEO of KKR, announced that Gambhir will join hands with head coach Chandrakant Pandit. "I am not an emotional person and not many things move me. But this is different. This is back to where it all started. Today, there is a lump in my throat and fire in my heart as I think about slipping into that purple and gold jersey once again," Gambhir was quoted as saying in a press note issued by franchise. "I am not only coming back to KKR but I am coming back to the 'City of Joy'. I am back. I am hungry. I am number 23. Ami KKR," the former India KKR's principal Shah Rukh Khan said: "Gautam has always been part of the family and this is our 'Captain' coming back home in a different avatar as a "Mentor". "He was sorely missed and now we all look forward to Chandu Sir and Gautam in instilling the never-say-die spirit and of sportsmanship they stand for, in creating magic with Team KKR." Expected to get full authority ================== One thing about Gambhir, who is also an elected Member of Parliament, is that he likes to have his own team and full control of proceedings and he is always ready to bear the brunt of consequences. With Gambhir's re-entry in his "spiritual home", it will be interesting to see the scope and domain for former Mumbai all-rounder Abhishek Nayar, who had a big say in strategic matters related to team selection and combination. With Gambhir, he has always been the "Captain' of the ship as principal owner said in his statement, and KKR fans would hope for a turnaround after a few indifferent seasons.

Gautam Gambhir returns to Kolkata Knight Riders as 'Mentor'

<keyword id="10138" type="PERSON" weightage="20" keywordseo="Mahendra-Singh-Dhoni">Mahendra Singh Dhoni</keyword> was today removed as captain of <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> franchise Rising Pune Supergiants and replaced by Australian <keyword id="84726" type="PERSON" weightage="20" keywordseo="Steve-Smith">Steve Smith</keyword>, ending his innings as skipper in both international and franchise cricket, according to news agency <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">ALSO READ: CUTENESS ALERT: DHONI'S DAUGHTER JUST DID A PHOTOSHOOT</a> 
 <keyword id="6397" type="PERSON" weightage="100" keywordseo="Dhoni">Dhoni</keyword>, who had stepped down as India's limited-overs <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">captain</a> to snap his international run as skipper earlier this year, will, however, continue to be a part of the Pune franchise as a player. 
 "Dhoni has not stepped down. We have appointed Steve <keyword id="11668" type="PERSON" weightage="20" keywordseo="Smith">Smith</keyword> as the skipper for the upcoming season. Frankly speaking, we did not have a good last season and we wanted someone young to lead the side and revamp it ahead of the upcoming season 10," Rising Pune Supergiants owner <keyword id="6355523" type="PERSON" weightage="20" keywordseo="Sanjiv-Goenka">Sanjiv Goenka</keyword> told PTI. 
 
This is the first time that the 35-year-old, who had stepped down from Team India captaincy on his own terms in all formats, has been removed from the top position. 
 
The decision comes a day before the <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">players' auctions</a> scheduled to be held in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. 
 "I have the highest regard for MS Dhoni as a leader and a person. Dhoni continues to be an integral member of our team. He is supportive of the decision keeping the franchise's best interests in mind," <keyword id="7812" type="PERSON" weightage="20" keywordseo="Goenka">Goenka</keyword> added. 
 
The most expensive player of the tournament that began in 2008, Dhoni also has been among the most successful. 
 Part of the now suspended <keyword id="13886" type="ORGANIZATION" weightage="20" keywordseo="Chennai-Super-Kings">Chennai Super Kings</keyword> franchise from 2008 to 2015, <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">Dhoni led the team</a> to back-to-back titles in 2010 and 2011. Besides, he also led Chennai to the Champions League T20 trophies in 2010 and 2014. 
 He was the first one picked in the only draft held in the IPL, in December 2015, after Chennai and <keyword id="13802" type="CITY" weightage="20" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> were suspended for two years and two new franchises -- Pune and <keyword id="1641060" type="UNKNOWN" weightage="20" keywordseo="Gujarat-lions">Gujarat Lions</keyword> -- were given the option of choosing up to five players each. 
 
He has been with the Pune franchise ever since. The man replacing him in the leadership role, the 27-year-old Smith, is currently the captain of the Australian crickteam in all three formats. 
 
He was appointed Test captain in 2014/15 and he took over the ODI captaincy reigns after the 2015 World Cup. 
 
Pune, who were one of the two teams along with Gujarat Lions to be inducted last season in place of the the suspended Chennai Super Kings and Rajasthan Royals, were plagued with injury issues. 
 They just about avoided the wooden spoon to finish ahead of <keyword id="13883" type="COMPANY" weightage="20" keywordseo="Kings-XI-Punjab">Kings XI Punjab</keyword> at the seventh place in the eight-team standings of IPL 2015. 
 Although the team started well with a win over <keyword id="13880" type="COMPANY" weightage="20" keywordseo="Mumbai-Indians">Mumbai Indians</keyword> in the first match, it failed to maintain the consistency with the likes of <keyword id="9231" type="PERSON" weightage="20" keywordseo="Kevin-Pietersen">Kevin Pietersen</keyword>, Faf du Plessis and <keyword id="88531" type="PERSON" weightage="20" keywordseo="Steven-Smith">Steven Smith</keyword> all withdrawing due to injuries.

IPL 2017: MS
Dhoni is no more the captain of Rising Pune
Supergiants. Here’s who replaced him

The Indian cricket board could soon get richer by at least ₹5000 crore with the addition of two new franchises during the 2022 edition of <keyword id="1777211" type="General" weightage="20" keywordseo="Indian-Premier-League-" source="Orion">Indian Premier League.</keyword> The <keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword>, which is currently an eight-team tournament, will become a 10-team affair from the next edition and during a recent governing council meeting, the modalities of the bidding process were chalked out. "Any company can buy the bid document paying ₹10 lakh. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore but later it was decided to keep the base price at ₹2000 crore," a senior <keyword id="6354756" type="General" weightage="20" keywordseo="BCCI" source="Orion">BCCI</keyword> source told PTI on the condition of anonymity. The source, who has dealt with the financial side of IPL in the past, said that the BCCI stands to gain at least ₹5000 crore if the <keyword id="48985" type="General" weightage="20" keywordseo="bids" source="Orion">bids</keyword> go as per plan with plenty of large business conglomerates showing active interest in bidding. "The BCCI is expecting anything in the range of 5000 crore if not more. There will be 74 IPL games next season and it's a win-win situation for everyone." It is learnt that only companies with an annual turnover of ₹3000 crore will be allowed to bid for the teams. In a welcome news, the BCCI is planning to allow a consortium to bid for teams as it makes the bidding process more vibrant. "I think more than three business entities won't be allowed to form a consortium but if three business come together and wants to jointly bid for a team, they are welcome to do so," he said. Among the venues where the teams could be based include Amedabad, Lucknow and Pune. The Narendra Modi Stadium in Ahmedabad and Ekana Stadium in Lucknow, with bigger capacities, could be the choice for franchises. Some of the names that are doing the rounds include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent and a prominent banker who has shown active interest in buying teams. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/two-wheeler-financing-company-oto-raises-6-million-to-offer-services-in-15-indian-cities/articleshow/85794223.cms">Two-wheeler financing company OTO raises $6 million to offer services in 15 Indian cities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/the-floods-in-assam-have-so-far-affected-21-districts-with-950-villages-affected-in-total/articleshow/85792970.cms">Pictures of devastation due to Assam floods that has killed two and displaced people in nearly a thousand villages in 21 districts</a>

IPL 2022: BCCI likely to gain at least ₹5000 crore with two new teams joining the league

<keyword id="86062" type="UNKNOWN" weightage="100" keywordseo="Spykar">Spykar</keyword>, the Indian jeanswear brand is the associate sponsor of Mahendra Singh Dhoni-led Pune Supergiants Indian Premier League team, which is owned by RP-Sanjiv <keyword id="979570" type="ORGANIZATION" weightage="100" keywordseo="Goenka-Group">Goenka Group</keyword>, for 2016 and 2017 seasons. 
 
The team jersey will sport Spykar logo on the back. 
 "Having established firmly in the metros and tier 1 markets, Spykar has started looking at consolidating its business in the tier 2 and tier 3 markets since the last few years. There could not be any vehicle better than the <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword>," said Spykar's chief operating officer Sanjay Vakharia. 
 
Image credit: Indaitimes 
 
IPL is one of the few sporting events which cut across the entire spectrum of towns and cities, and audiences as well, Vakharia said. "IPL has a huge fan following among women too - striking a chord with Spykar's newly launched women's collection," he said.

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

Rounak Jain

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

PTI

Gautam Gambhir returns to Kolkata Knight Riders as 'Mentor'

PTI

IPL 2017: MS Dhoni is no more the captain of Rising Pune Supergiants. Here’s who replaced him

BI India Bureau

IPL 2022: BCCI likely to gain at least ₹5000 crore with two new teams joining the league

PTI

This company is the associate sponsor of Dhoni-led Rising Pune Supergiants

BI India Bureau

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