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After four years, the RP-Sanjiv Goenka Group returned to the Indian Premier League (IPL). Recently, there has been a lot of conjecture about who would win the bids to purchase the two new IPL clubs that will debut in the 2022 season. The BCCI published the names of the top two bidders on October 26 evening, with the RPSG group making the cut.
The Sanjiv Goenka-owned company purchased the IPL's Lucknow franchise for a hefty Rs 7,090 crore, breaking the previous record. Irelia Company Pte Ltd - CVC Capital Partners was awarded the other team, which would be located in Ahmedabad. To win the auction to purchase this up-and-coming squad, the firm offered Rs 5,625 crore.
In December, the auction for the 15th season of the Indian Premier League, which will take place next year, will take place.
The RP-Sanjiv Goenka Group is no stranger to the IPL, India's most prestigious cricket competition. The conglomerate formed a second franchise, the Rising Pune Supergiant, in 2015, when Chennai Super Kings and Rajasthan Royals were serving a two-year ban from the league for their suspected participation in a match-fixing scam. However, the company's time in the IPL was limited, since the squad only participated for two seasons.
Who are the members of the RP-Sanjiv Goenka Group?
The RP- Sanjiv Goenka Group is a multibillionaire corporate group centered in Kolkata. The group, which was founded on July 13, 2011, by Sanjiv Goenka, Rama Prasad Goenka's younger son, engages in a variety of areas. Power and energy, carbon black manufacture, retail, IT-enabled services, FMCG, and infrastructure are just a few examples. Powerhouse CESC Limited, music label SaReGaMa India Limited, and multi-format store Spencer's Retail are among the franchise's most well-known brands.
In Sports, RP- Sanjiv Goenka Group
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Sanjiv Goenka, the owner of RPSG, is well-known for his love of sports. ATK-Mohun Bagan, which was formerly known as ATK-Kolkata, is owned by the organization. This football squad is a member of the Indian Super League's top flight. The club had previously dabbled in other sports, such as table tennis. However, Goenka indicated his desire to return to cricket following a successful and short spell in the Indian Premier League.
Why is the RP-Sanjiv Goenka Group's return to the IPL significant?
As previously said, the firm had previously launched an IPL squad four years ago, but it did not survive long. According to media sources, when dissolving Rising Pune Supergiant, the Kolkata-based business tycoon said that he would launch a team "whenever there would be a chance." Goenka showed his joy in interviews with a few news organizations on Monday, immediately after the winners were announced by the Board of Control for Cricket in India (BCCI). On the day, he told The Hindu Sportstar, "It is a beginning step, and now we need to assemble a solid squad and perform." He said in another interview that the gang favoured Lucknow over the other teams.
So, years after a devastating defeat to Mumbai Indians in the 2017 final games, the RPSG club will finally commence their second innings in the Indian Premier League with this transfer.
Regarding Future Plans and the Proposed Return
"The enterprise value to be paid over in ten years is Rs 7,000 crore," Goenka told Moneycontrol. "The first-year payment is Rs 700 crore." I hope to get around Rs 3,500 crore from the Cricket Board throughout the same time span."
"I estimate it to be worth Rs 10,000 crore in five years," Goenka said when asked about the investment returns. The current value of Rs 7,000 crore will be increased to Rs 10,000 crore. So, if I spend Rs 2,500 crore and it grows to Rs 10,000 crore in five years, that's a really excellent investment."
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