The BCCI sold the Lucknow based IPL team to RPSG Enterprises for a record fee ahead of next year’s edition of the competition.
Indian cricket’s governing body revealed a few months ago that they were planning to include two new franchises to make the IPL a 10-team competition. It was later revealed that Lucknow and Ahmedabad were the two cities up for grabs.
CVC Capital Partners secured the Ahmedabad franchise yesterday for a staggering ₹5625 crores (~$750 million). The RPSG group made that massive amount look considerably smaller with its purchase of the Lucknow side.
The BCCI confirmed that RPSG Enterprises is the new owner of the Lucknow franchise thanks to its successful ₹7090 crores ($945 million) bid.
Net worth of RPSG Enterprises explored
If you’re a fan of the IPL and are wondering why RPSG sounds familiar, it’s because the company is no stranger to the competition.
Back when the Chennai Super Kings and Rajasthan Royals were suspended for a couple of seasons, RPSG brought in a team named Rising Pune Super Giants. The franchise only lasted for two years, but the company is now back for the long run.
The ₹7090 crores ($945 million) expenditure on the new franchise is an eye-watering figure, but it’s nothing compared to what the group is actually worth.
The Indian multinational conglomerate company has an asset base worth a staggering $6 billion, as revealed on their website.
Who owns RPSG Enterprises?
RPSG Enterprises is owned by Sanjiv Goenka, an Indian billionaire based in Kolkata. His personal net worth stands at a staggering $2.7 billion, as revealed by Forbes on its official website.
Goenka’s company is involved in power, sports, ITeS, consumer retail, media and entertainment, carbon black, education, infrastructure and plantations, and they’ve been successful in every single industry.
Apart from his IPL venture, Goenka has a majority stake in ATK Mohun Bagan Football Club that plays in the Indian Super League (ISL). He also owns RPSG Mavericks Kolkata, a team that plays in India’s Ultimate Table Tennis league.