The Indian Premier League could grow from 10 teams to 12 from the 2028 season, according to reports in India, with Pune and Vadodara emerging as the leading contenders to host the two new franchises. The Board of Control for Cricket in India (BCCI) is reportedly exploring the expansion, although no formal decision has been taken and discussions remain at an early stage.

The report, first carried by Mint and widely picked up across Indian media on 10 November 2026, says the BCCI has begun preliminary talks with private equity groups as part of planning for the next IPL media rights cycle, which is expected to run from 2028 to 2032. Any new franchises could each be valued at more than $1 billion, with one estimate putting the figure at around ₹8,800 crore.

Pune and Vadodara lead the race

Pune and Vadodara have been named as the frontrunners, but the final choice of cities has not been confirmed and could still change. Amaravati, the capital of Andhra Pradesh, is reportedly not among the locations currently under discussion.

Pune is no stranger to the IPL. The city hosted Pune Warriors India between 2011 and 2013, before the franchise exited following financial disagreements with the BCCI. The IPL returned to Pune in 2016 and 2017 through Rising Pune Supergiant, a replacement side that reached the 2017 final before losing to Mumbai Indians by a single run.

Vadodara, around 110 km from Ahmedabad, is another city reportedly under consideration, despite Gujarat already having a team in the Gujarat Titans. The city's case has been linked to the state's wider push to develop international sporting infrastructure, including Ahmedabad's ambitions around India's bid to host the 2036 Olympic Games.

Investors circle as media rights come up

The timing of the proposed expansion is tied closely to money. The current IPL media rights cycle, covering 2023 to 2027, fetched $6.2 billion, making the tournament one of the most valuable sporting competitions in the world on a per-match basis. The next cycle, expected to begin in 2028, could exceed that figure, and adding two teams would create more matches to sell to broadcasters.

According to the reports, potential investors include European private equity firm Permira, sovereign wealth funds from West Asia, Asian state-backed investment organisations, American family offices and prominent Indian business groups. Some are also said to be considering minority stakes in existing franchises rather than full ownership of a new team.

Recent deals underline why valuations have risen so sharply. United Spirits agreed to sell Royal Challengers Bengaluru to a consortium including the Aditya Birla Group, Blackstone and Bennett Coleman and Co for $1.78 billion, while a consortium led by the Lakshmi Mittal family and Adar Poonawalla acquired Rajasthan Royals at a valuation of $1.65 billion. The Torrent Group bought a 67 per cent majority stake in Gujarat Titans last year for about $875 million.

A bigger league, but questions remain

The IPL began with eight teams in 2008 and expanded to 10 in 2011 with the addition of Pune Warriors India and Kochi Tuskers Kerala. The last expansion came before the 2022 season, when the RP-Sanjiv Goenka Group secured the Lucknow franchise for $940 million and CVC Capital Partners acquired the Ahmedabad franchise, later named Gujarat Titans, for $750 million.

Expansion would not be straightforward. Reports note that the BCCI's plans will depend on commercial considerations, the availability of Indian players and broadcasters' willingness to pay for extra matches. There have also been discussions about starting the competition as early as January and potentially splitting the season into two phases, underlining how much the calendar would have to change to fit a 12-team tournament.

For now, the proposal remains exactly that: a proposal. The BCCI has made no announcement, and Pune and Vadodara are frontrunners rather than confirmed hosts. But if the plan is approved ahead of the 2028 mega auction, the IPL would be set for its biggest structural change since 2022, with two new teams, two new home cities and a larger, richer tournament. Sources: MyKhel and Cricket Addictor.