IPL: RPSG, CVC Capital acquire Lucknow, Ahmedabad teams
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In a major development, the RPSG group and international investment firm CVC Capital have acquired the ownership rights of the two new IPL franchises. The RPSG Group has picked the Lucknow-based franchise with a winning bid of Rs. 7,090 crore. Meanwhile, CVC Capital has grabbed Ahmedabad with a bid of Rs. 5,166 crore. The introduction of two new teams formally makes the IPL a 10-team affair.