IPL may expand to 12 teams from 2028, with Pune and Vadodara said to lead race for new franchises

Two more franchises could be added to the Indian Premier League (IPL) from the 2028 season, according to media reports. The Board of Control for Cricket in India (BCCI) is seriously considering expanding the world's most popular T20 league. If the decision is finalised, the number of IPL teams will go from 10 to 12.

Pune in Maharashtra and Vadodara in Gujarat are currently considered ahead in the race. However, talks are at an early stage and the final cities could change.

A new franchise is likely to be priced at more than $1 billion, or about Rs 8,900 crore, the report said. RCB was recently sold at a valuation of $1.78 billion, while Rajasthan Royals were sold at a valuation of about $1.65 billion. For this reason, private equity firms, sovereign wealth funds from West Asia, American family offices and Indian business groups are showing strong interest in investing in the new teams. The private equity firm Permira has been named specifically in the report.

The plan to add two new teams is linked to the IPL's next media rights cycle, from 2028 to 2032. The current media rights for 2023 to 2027 were sold for about $6.2 billion. Before expanding, the BCCI will have to consider key matters such as player availability, the international cricket calendar and broadcasters' interest. More teams would mean more matches, and that could also raise broadcast costs.

Two new franchises were last added in the 2022 season. Lucknow Super Giants were bought by the RPSG Group for $940 million, while ownership of Gujarat Titans went to CVC Capital Partners for $750 million.

Pune has a long association with the IPL. The city has been represented in the league by two franchises. Pune Warriors India played in the league from 2011 to 2013. Rising Pune Supergiant then played in 2016 and 2017. In the 2017 season the team reached the final, where it lost to Mumbai Indians by just 1 run.

The number of IPL teams has changed several times. The league began in 2008 with eight teams: Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals, Royal Challengers Bengaluru, Mumbai Indians, Deccan Chargers, Delhi Daredevils and Kings XI Punjab. In 2011, the arrival of Pune Warriors India and Kochi Tuskers Kerala took the number to 10. In 2012, Kochi Tuskers Kerala were out for failing to meet the terms of their agreement, leaving nine teams. In 2013, Sunrisers Hyderabad replaced Deccan Chargers and the count stayed at nine. In 2014, Pune Warriors India withdrew from the league, leaving eight teams.

In 2016 and 2017, Chennai and Rajasthan were suspended for two years because of the betting case. Two temporary teams, Gujarat Lions and Rising Pune Supergiant, replaced them, and the count stayed at eight. In 2018, Chennai and Rajasthan returned, while Gujarat Lions and Rising Pune Supergiant dropped out. With the entry of Gujarat Titans and Lucknow Super Giants in 2022, the number of teams rose to 10.