IPL to get two new teams by 2028; Pune and Vadodara emerge as front-runners - Reports
The Indian Premier League (IPL) is likely to get two new teams by 2028 edition.
The Indian Premier League (IPL) is the biggest franchise league in cricket, and it is likely to get even bigger by 2028. The IPL could reportedly see an expansion in the coming seasons.
As per a report by Mint, the Board of Control for Cricket in India (BCCI) is exploring the possibility of making it a 12-team tournament. Pune and Vadodara have come out as the two likely locations for two franchises.
The discussions are currently in the early stages, and the expansion is expected to happen by the next IPL media rights cycle scheduled between 2028 and 2032. Pune has already been part of the IPL before.
Pune Warriors India featured in the IPL between 2011 and 2013, while Rising Pune Supergiant were part of the IPL for the 2016 and 2017 editions. Meanwhile, Vadodara could be the second location in Gujarat to feature in the IPL, along with the 2022 champion Gujarat Titans.
Pune and Vadodara are the front runners; projected valuations could command over $1 billion – Reports
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As per reports, Pune and Vadodara are currently the potential locations for the new teams. With Pune already being involved in the IPL in the past, Vadodara’s inclusion can give a big push to Gujarat’s vision of making the state a sporting hub.
Notably, Ahmedabad made headlines over India’s bid to host the 2036 Olympic Games. The support from the current government will help to develop international-standard sporting facilities in a state.
As reported, the two new franchises can attract massive valuations, which can go well over USD 1 billion. The report suggests that several big investors, including sovereign wealth funds from West Asia, European private equity firm Permira, Asian state-backed investment entities, and prominent Indian business conglomerates, have shown interest.
US-based family offices and ultra-high-net-worth individuals have also shown interest in exploring the investment options. Earlier in 2022, the BCCI added two new franchises. Lucknow Super Giants were bought by RP-Sanjiv Goenka Group for USD 940 million.
Gujarat Titans were bought by CVC Capital Partners for USD 750 million. The recently sold franchises, Royal Challengers Bengaluru and Rajasthan Royals, attracted massive bids. That surely has given a push to the expectations to raise the valuations for the next franchises.
How many teams are currently playing in the IPL?
The tournament has ten teams competing as of now, which is expected to increase to 12 by the 2028 edition.
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