A record-breaking auction, a bold gamble, and the rise of two franchises that changed the IPL forever
The Indian Premier League (IPL) has always been about high stakes, but in 2022, it reached an entirely new level. The introduction of two new teams—Lucknow Super Giants and Gujarat Titans—came with jaw-dropping price tags, totalling a combined bid of Rs 12,715 crore. This wasn’t merely a financial flex but a statement of intent. Cricket was no longer just a sport—it had evolved into an investment opportunity, a brand, and a global entertainment phenomenon.
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Now, as the 2025 IPL season unfolds with these teams firmly established, it’s worth revisiting their dramatic entry and their lasting impact on the league.
In October 2021, nine contenders lined up to bid for two new IPL franchises. Heavyweights from various industries threw their hats into the ring, but ultimately, two names stood out.
For context, when the IPL was first launched in 2008, franchises were sold for much smaller sums—Mumbai Indians, the most expensive team at that time, cost just Rs 487 crore. Fast-forward to 2022, and a single team was worth over 14 times that amount.
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The scale of these bids shocked even the most seasoned IPL insiders. The previous most expensive franchise, Rajasthan Royals, had been valued at merely Rs 1,850 crore months before the auction. Sunrisers Hyderabad joined the league in 2012 for Rs 850 crore. Suddenly, the numbers had skyrocketed.
But was this enormous spending justified? The answer came soon enough.
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Unlike the Rising Pune Supergiant experiment in 2016-17, Lucknow and Gujarat were here to stay. They weren’t temporary replacements; they represented long-term investments meant to reshape the IPL landscape.
The Board of Control for Cricket in India (BCCI) allowed them to draft players ahead of the 2022 mega auction to give them a fair chance. The Gujarat Titans took a bold step by securing Hardik Pandya as captain, along with Rashid Khan and Shubman Gill. Meanwhile, Lucknow chose KL Rahul as skipper, bringing in Marcus Stoinis and Ravi Bishnoi as their core players.
It didn’t take long for the impact to be felt.
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In a fairytale debut, Gujarat Titans won the IPL title in 2022 under Pandya’s leadership, dominating both the league and the playoffs. Few expected a new team to claim victory, but Gujarat defied the odds.
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Lucknow was impressive but not unbeatable. For consistency, it reached the playoffs in 2022 and 2023, though it faltered to seventh in 2024. Now, in 2025, with Rishabh Pant leading LSG and Shubman Gill in charge of GT, both teams aim for another deep tournament run.
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The IPL’s expansion to 10 teams altered the tournament format, increasing matches from 60 to 74 and reinstating a two-group system with a single points table last used in 2011.
This shift impacted player retention, allowing teams to retain only four players before the mega auction, prompting franchises to revise their strategies. The new teams benefited from acquiring key players in the draft. Rising franchise values enhanced every team’s worth, with two teams selling for over Rs 5,000 crore. Existing franchises realized they would command higher prices if sold.
The Rs 12,715 crore gamble wasn’t merely a wager on two teams—it was a bet on the future of cricket itself. So far, it’s paying off.
