IPL expansion in talks, two likely destinations revealed

Dubai: The Indian Premier League could add two more franchises from the 2028 season, with Pune and Vadodara emerging as possible destinations as the Board of Control for Cricket in India (BCCI) explores another expansion of the competition.

According to a report by Mint, discussions are at an early stage, and the final choice of cities could change. The proposed expansion is expected to coincide with the next IPL media rights cycle, covering 2028 to 2032. Each new franchise could be valued at more than $1 billion (Dh 3.67 billion).

The report suggests potential investors include private equity firm Permira, West Asian sovereign wealth funds, Asian state-backed investment entities, US family offices and major Indian business groups.

Pune has previously been home to two IPL teams. Pune Warriors India competed from 2011 to 2013 before exiting following financial disagreements with the BCCI. Rising Pune Supergiant then played in 2016 and 2017, reaching the final in its second season before losing to Mumbai Indians by one run.

Vadodara’s emergence comes amid Gujarat’s efforts to strengthen its sporting infrastructure. The city is around 110km from Ahmedabad, home of Gujarat Titans. Ahmedabad has also been promoted as a potential host for major international sporting events as India pursues its ambition to stage the 2036 Olympic Games.

The proposed expansion follows a surge in franchise valuations. Royal Challengers Bengaluru were sold to a consortium led by the Aditya Birla Group, Bennett Coleman and Co, Blackstone and Bolt Ventures for $1.78 billion (Dh 6.53 billion). Rajasthan Royals were acquired by a consortium led by the Mittal family and Adar Poonawalla at a reported valuation of $1.65 billion (Dh 6.05 billion).

The IPL last expanded in 2022, when Lucknow Super Giants and Gujarat Titans joined the competition.

However, the BCCI will have to consider broadcasters’ appetite for more matches, player availability and the commercial viability of adding two teams. The current 2023-27 media rights cycle was secured for $6.2 billion (Dh 22.76 billion).