BCCI exploring two-team IPL expansion by 2028 with Pune and Vadodara tipped as frontrunners

The Board of Control for Cricket in India is examining a plan to expand the Indian Premier League to 12 teams by 2028, with Pune and Vadodara emerging as the leading candidates, a report in Mint said. The discussions are at an early stage and the proposed enlargement is expected to coincide with the next IPL media rights cycle scheduled between 2028 and 2032.

Pune has previous IPL history: Pune Warriors India competed from 2011 to 2013 and Rising Pune Supergiant took part in the 2016 and 2017 editions. Vadodara would become the second Gujarat-based franchise if chosen, joining the Gujarat Titans, who won the 2022 title. The report notes that Ahmedabad has featured in broader sporting plans, citing India’s bid to host the 2036 Olympic Games and saying support from the current government would assist development of international-standard sporting facilities in the state.

Sources cited by the report estimate the two new franchises could attract valuations potentially exceeding USD 1 billion. Interest has reportedly come from a range of investors, including sovereign wealth funds from West Asia, European private equity firm Permira, Asian state-backed investment entities and prominent Indian business conglomerates. The report also names US-based family offices and ultra-high-net-worth individuals among parties exploring investment options.

The BCCI expanded the IPL by two franchises in 2022, when Lucknow Super Giants were purchased by the RP-Sanjiv Goenka Group for USD 940 million and Gujarat Titans were bought by CVC Capital Partners for USD 750 million. The report adds that recent sales of franchises such as Royal Challengers Bengaluru and Rajasthan Royals drew very large bids, which has fed expectations of higher valuations for any new entrants.

At present the tournament fields ten teams, and the proposed additions would increase that number to 12 for the 2028 edition if the plan proceeds. Organisers are reportedly aligning the timing of any expansion with the upcoming media-rights negotiation window to maximise commercial value.

BCCI deliberations are ongoing and, according to the report, any formal decision on adding two franchises is expected to be resolved in time for the next IPL media rights cycle between 2028 and 2032.