LSG was bought by Sanjiv Goenka's RPSG group for INR 7090 crores.
The Lucknow franchise was bought by RP Sanjiv Goenka Group (RPSG) in October last year for approximately ₹7000 crores (over 932 million USD). The other new franchise based in Ahmedabad was bought by the CVC Capital group for INR 5625 crores.
This will make the IPL 2022 a 10-team event for the first time since the 2011 edition which featured the Pune Warriors India and the Kochi Tuskers Kerala.
The BCCI had cleared both the franchises to buy three players before the mega auction in order to build a core for their squad.
The LSG franchise, Lucknow Super Giants signed the trio of KL Rahul, Marcus Stoinis and Ravi Bishnoi. Rahul will get INR 17 crores, making him the joint most expensive player in IPL history. Stoinis, who has been roped in as Player 2, will receive INR 9.2 crores while uncapped Ravi Bishnoi will get INR 4 crores.
Meanwhile, the Sanjiv Goenka-owned group unveiled the logo of their Lucknow Super Giants franchise for the IPL 2022 edition, which is expected to be played in India itself.
The Lucknow Super Giants unveiled their logo sharing a rich history behind the design. The winged look is inspired by Indian mythology and is based on Garuda, the King of Birds in Indian mythology.
The RPSG further said that the tricolor wings of the logo represent LSG's pan India appeal. The body of the bird formed by a blue colored bat represents the game of cricket and the red ball is the auspicious 'Jay Tilak'.
"Soaring towards greatness. Lucknow Super Giants is all set to stretch its wings. Prepare for greatness!," LSG tweeted while sharing the new logo.