The name of the Lucknow IPL team was announced by its owner RP Sanjiv Goenka on Monday. The name is similar to Rising Pune Supergiant (RPS), which he also owned between IPL 2016-17. LSG happens to be the most expensive IPL team to date, having bid for ₹7,090 crore, alongside Ahmedabad for ₹5,625, owned by CVC Capitals.