“Entire World Thought I Was Mad”: IPL Team Owner Recalls Paying ₹7,090 Crore for Franchise
Ahead of the 2022 season, the Indian Premier League (IPL) expanded from eight to ten teams, with the bidding process for the two new franchises taking place in October 2021. Global private equity firm CVC Capital acquired one team for ₹5,625 crore, while the RP-Sanjiv Goenka (RPSG) Group stunned the cricket world by securing the other franchise for a staggering ₹7,090 crore.
Nearly four years later, RPSG Group chairman Sanjiv Goenka has reflected on what many saw as a bold — even risky — decision. The group, which also has a stake in The Hundred’s Manchester Originals, recently announced that the team will incorporate the ‘Super Giants’ brand into its name for future editions.
“When I invested 900 million dollars to buy an IPL team, the entire world thought I was mad,” Goenka told BBC Sport. “But in just three and a half years, it’s probably worth 1.5 billion dollars. The IPL is a league like no other, and while The Hundred is still growing, we believe it will expand significantly.”
He emphasised the importance of building an emotional bond with the sport, the format, and the team — a process that takes time. “The IPL has taken 18 years to reach where it is,” Goenka noted.
Following their record-breaking acquisition, the RPSG Group named the franchise Lucknow Super Giants (LSG). The team had an impressive start, reaching the playoffs in its first two seasons. However, performance dipped in the subsequent years. In IPL 2024 and 2025, LSG finished seventh, with 2025 marking their lowest-ever points tally — just 12 — in their four-season history.
News Source : Information for this article was gathered from a variety of reliable news outlets.
