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Faf du Plessis scored a match-winning score of 86 on 59 balls for Chennai Super Kings during the 2021 final
From 2022, two new franchises will compete for the Indian Premier League.
The conglomerate RPSG Ventures bid more than $930m (675.2m), at an auction in Dubai, to establish a team in Lucknow, India.
CVC Capital Partners promised to invest more than $690m (501m), in Ahmedabad, the home of the 132,000-capacity world's largest cricket stadium.
The 2022 IPL season will feature 10 teams and 74 matches. Each team will play seven away and seven home matches.
Sourav Ganguly is the president of Board of Control for Cricket in India (BCCI). He stated that "The IPL will now be going to two new Indian cities in Lucknow, Ahmedabad."
"It is heartening to see two new teams at such high valuations. It also reiterates the financial strength and cricketing excellence of our cricket ecosystem.
"The auction process attracted two bidders from outside India. This strongly emphasizes the IPL's global appeal as a sporting property.
"The IPL is an amazing tool in globalizing cricket. I look forward to IPL 2022.
The reigning IPL champions are Chennai Super Kings, who defeated Kolkata Knight Riders earlier in the month.