IPL Eyes Two New Franchises From 2028, Pune and Vadodara Among Frontrunners: Report

The Indian Premier League (IPL) could expand again from the 2028 season, with the Board of Control for Cricket in India (BCCI) exploring the possibility of introducing at least two new franchises. Pune and Vadodara have emerged as potential locations as discussions around the next phase of the tournament’s growth gather momentum.

According to a report by Mint, the discussions remain at an early stage, and the final selection of cities could change. The proposed expansion is expected to align with the IPL’s next media rights cycle, covering the 2028–2032 period.

Each new franchise could potentially command a valuation of more than $1 billion, reflecting the league’s growing commercial appeal. Domestic business groups, international investment firms and wealthy individuals are reportedly evaluating opportunities to enter the competition.

Key Highlights

• The BCCI is exploring the addition of two new IPL franchises from the 2028 season.
• Pune and Vadodara have emerged as potential locations for the proposed teams.
• Each new franchise could potentially be valued at more than $1 billion.
• Domestic conglomerates, private equity firms and international investors are reportedly interested.
• The expansion will depend on commercial considerations, player availability and broadcasters’ willingness to support additional matches.

BCCI Explores Two New IPL Teams From 2028

The BCCI is considering another expansion of the IPL as the tournament continues to attract investment and commercial interest. According to the Mint report, the board is exploring the addition of at least two franchises from the 2028 season.

The proposed expansion would take the league into its next phase of development and could increase the number of teams competing for the IPL title. However, the discussions are still at an early stage, and the board has not publicly confirmed the final expansion plan or the selected cities.

The timing is significant because the next IPL media rights cycle is expected to cover 2028 to 2032. Introducing new franchises around that period could reshape the league’s commercial structure and create opportunities for additional revenue.

Why Pune and Vadodara Are Potential IPL Destinations

Pune and Vadodara have emerged as possible locations for the proposed franchises, according to the report. Both cities have sporting connections and could offer the league opportunities to expand its presence in western India.

Vadodara’s Growing Sporting Ambitions

Vadodara’s emergence as a potential IPL destination comes amid Gujarat’s broader efforts to strengthen its position as a sporting hub. The city is located approximately 110 kilometres from Ahmedabad, where the Gujarat Titans play their home matches.

Ahmedabad has also been part of India’s wider ambitions to develop international sporting infrastructure, particularly in connection with the country’s aspiration to host the 2036 Olympic Games. Home Minister Amit Shah outlined the city’s sporting ambitions in a government release on September 4.

If selected, Vadodara would provide the IPL with another potential venue in Gujarat. However, its proximity to Ahmedabad and the existing presence of the Gujarat Titans could also be relevant considerations during the BCCI’s evaluation.

Pune’s Previous IPL Experience

Pune has an established connection with the IPL and has previously been home to two franchises. The city first hosted Pune Warriors India, owned by the Sahara Group, between 2011 and 2013.

The franchise later exited the competition following financial disagreements with the BCCI over franchise fees.

Pune subsequently hosted Rising Pune Supergiant for two seasons in 2016 and 2017. The team entered the tournament during the suspension of Chennai Super Kings and Rajasthan Royals.

Rising Pune Supergiant reached the 2017 IPL final but lost to Mumbai Indians by just one run. Its previous participation gives Pune an existing connection with the league and its supporters.

Investors Show Interest in Potential New IPL Franchises

The possibility of adding two new teams has reportedly attracted interest from several categories of investors. According to Mint, potential participants include private equity firm Permira, sovereign wealth funds from West Asia, Asian state-backed investment entities, US-based family offices and prominent Indian business conglomerates.

Ultra-high-net-worth individuals are also understood to be evaluating possible investments, including minority stakes in the proposed franchises.

The reported interest reflects the IPL’s position as a major commercial property in global sport. Franchise ownership offers investors exposure to broadcasting revenue, sponsorships, ticket sales, merchandise and the wider business ecosystem surrounding professional cricket.

However, the identities of any successful bidders and the final ownership arrangements will depend on the BCCI’s eventual process and commercial terms.

Recent IPL Franchise Deals Strengthen Valuation Expectations

Expectations of billion-dollar valuations for new IPL franchises have increased following two major ownership transactions involving existing teams.

United Spirits, the Indian subsidiary of Diageo, agreed to sell Royal Challengers Bengaluru to a consortium comprising the Aditya Birla Group, Bennett Coleman and Co, Blackstone and Bolt Ventures. The transaction valued the franchise at approximately $1.78 billion.

Separately, a consortium led by the Lakshmi Mittal family and Adar Poonawalla acquired Rajasthan Royals in a deal valuing the franchise at around $1.65 billion.

These transactions provide an indication of the commercial value investors currently associate with established IPL teams. They have also strengthened expectations that new franchises could attract substantial bids, although their final valuations would depend on the terms of sale and expected revenue opportunities.

How Much Did the IPL’s Previous Expansion Cost?

The IPL last expanded ahead of the 2022 season, when the BCCI introduced Lucknow Super Giants and Gujarat Titans.

The RPSG Group acquired Lucknow Super Giants for $940 million, while CVC Capital Partners purchased Gujarat Titans for $750 million.

The two additions expanded the competition from eight to ten teams, creating more opportunities for players, sponsors and broadcasters. Gujarat Titans subsequently established themselves as a competitive franchise, while Lucknow Super Giants added another major cricket market to the league.

The previous expansion also demonstrated the financial scale involved in acquiring an IPL franchise. The reported valuations of the proposed 2028 teams suggest that the next round of expansion could involve even larger investments.

IPL Media Rights and Broadcasting Revenue Will Be Crucial

The success of any expansion will depend heavily on the commercial structure of the IPL, particularly its media rights agreements. The current 2023–2027 media rights cycle was secured for approximately $6.2 billion, making the competition one of the world’s most valuable sporting properties on a per-match basis.

Adding two franchises would increase the number of teams and potentially expand the tournament’s match schedule. More games could create additional broadcasting and sponsorship opportunities, but they could also increase the cost of acquiring media rights.

Broadcasters will therefore play an important role in determining whether the proposed expansion makes commercial sense. The BCCI will need to consider whether additional matches can generate enough value to justify the higher investment required from media companies.

Player Availability Could Influence the Expansion Plan

Another important consideration will be the availability of leading Indian players. The IPL depends heavily on domestic talent, and adding two teams would increase the number of players required to fill competitive squads.

The BCCI would need to consider squad composition, player distribution and the structure of any auction or retention process associated with the expansion. Maintaining a competitive balance between franchises would also be important.

The final format and scheduling arrangements could influence how effectively the league accommodates additional teams without creating excessive demands on players or the international cricket calendar.

What the Proposed IPL Expansion Means for Indian Cricket

If approved, the addition of two new franchises could expand the IPL’s commercial reach and create more opportunities for players, coaching staff, support personnel and local businesses.

New teams could also bring more cities into the league’s sporting and commercial network. For Pune and Vadodara, selection would potentially mean greater visibility, increased match-day activity and stronger investment in cricket-related infrastructure.

However, the expansion would need to balance commercial growth with sporting quality. The availability of Indian players, broadcasting economics, stadium infrastructure and franchise ownership arrangements will all influence the final decision.

Conclusion

The BCCI is reportedly exploring the addition of two new IPL franchises from the 2028 season, with Pune and Vadodara emerging as potential destinations. The proposed teams could each command valuations exceeding $1 billion, reflecting the league’s growing appeal among domestic and international investors.

However, the expansion remains under discussion and has not been officially finalised. Media rights negotiations, investor interest, player availability and commercial considerations will determine whether the IPL moves ahead with two additional teams in 2028.