American money hasdiscovered Indian cricket
The IPL will expand to 10 teams from 8 in August 2021. RPSG Group bought a franchise based in Lucknow for $940 million, while CVC purchased the Ahmedabad team for $750 million. The new TV rights deal is worth $6.2 billion for the next five years. The structure of the IPP means surpluses are virtually guaranteed. Every IPPT team is believed to have been profitable in 2021, even when the pandemic necessitated that games were played in empty stadiums. Adam Sommerfeld, a sports investment specialist at Certus Capital, believes buying into the league is a no-brainer for private equity firms and institutional investors.
