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#Thread #RPSG #Lucknow #IPL
Hello! So much talk about RP-Sanjiv Goenka (RP-SG) Group’s IPL bid of Rs 7,090 cr for Lucknow. People extremely worried if they'll make money, like they’ve spent personal pocket-money on it. : )
But the question is an absolutely valid one... (1/24)
Hello! So much talk about RP-Sanjiv Goenka (RP-SG) Group’s IPL bid of Rs 7,090 cr for Lucknow. People extremely worried if they'll make money, like they’ve spent personal pocket-money on it. : )
But the question is an absolutely valid one... (1/24)
In this thread, we’ll try and see if we can find some answers. Rs 7,090 cr is indeed a huge number and what will it take for RP-SG to recover this, and by when. First of all: RP-SG will have to pay this amount to BCCI over 10 years in equal instalments. (2/24)
So, that’s Rs 709 cr per year. They will have to submit a bank guarantee to BCCI of Rs 709 cr which the cricket board will keep with themselves until the end of all 10 instalments. The instalments begin with the 2022 edition of the IPL, until 2031. (3/24)
