Owning the Rising Pune Supergiant for two seasons - in 2016 and 2017 - the RP-Sanjiv Goenka Group is back again in the Indian Premier League (IPL).
After four years. Lately, there had been massive speculations around who would win bids of owning the two new IPL teams that will come into the scene from the 2022 games.
That speculation was put to an end on October 26 evening when the BCCI announced named of the top two bidders, with the RPSG group bagged the Lucknow franchise of the IPL for a whopping Rs 7,090 crore.
On Monday, shortly after the announcement was made by the Board of Control for Cricket in India (BCCI) revealed the winners, Goenka expressed his happiness “It is an initial step and now, we need to build a good team and perform,”
The Kolkata based business tycoon had revealed that he would again float a team “whenever there would be an opportunity", what you have to pay to the BCCI. Of the Rs 7000 crore, I will probably be paying only Rs 3500 crore in 10 years. It is because, I will be getting Rs 3500 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 Rs 2100 crore. That means I have got an IPL team for Rs 2100 crore. Tell me is it good or not?
I have already told you, my mathematics. I don't know what people say. My pay-out is only Rs 3500 crore. The net present value is only Rs 2100 crore. We have calculated this for a long time.
The RPSG franchise will finally enter their second innings in the Indian Premier League, years after a heart-breaking loss to Mumbai Indians in the 2017 final games.