As per the recent reports, the issue over CVC Capital’s bid for the Ahmedabad franchise in the Indian Premier League (IPL) has come to an end. The BCCI and CVC Capital have been discussed for several hours and they announced that CVC Capital was “fit” to own an IPL franchise as well.
However, the BCCI, on October 25, has announced RPSG Group and CVC Capital Partners as the new owners of two IPL franchises which will be added next season. While RPSG Group grabbed the Lucknow franchise for INR 7090 crore, CVC bought the Ahmedabad franchise with INR 5625 crore.
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Meanwhile, former IPL chairman Lalit Modi slammed the BCCI over their decision and took a dig at the board as well. His tweet read: “I guess betting companies can buy an IPL team. must be a new rule. apparently, one qualified bidder also owns a big betting company. what next? does BCCI not do their homework? what can Anti-corruption do in such a case? #cricket.”
Breaking now: BCCI & CVC Capital have resolved all issues. After several hours of discussion, BCCI has deemed CVC Capital 'fit & proper' to own an IPL franchise. CVC just signed a Letter of Intent (LOI) with BCCI to own Ahmedabad franchise.
Wonderful news for Indian cricket. : )
— KSR (@KShriniwasRao) October 27, 2021
On the other hand, earlier, a report by Outlook also stated that CVC Capital came under the scanner for its links with betting companies as well.
The report had stated: “CVC Capital Partners has run into trouble for its links with betting companies. It has been pointed out that CVC Capital have invested heavily in betting and gambling companies. BCCI’s attention has been drawn to CVC Capital’s business activities and it was strange that these were not noticed during the long “verification stage” before the financials were opened on Monday evening.”
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With these two new teams, IPL 2022 will be a 10-team tournament where a total of 74 matches will take place in the upcoming edition of the T20 league, whereas each team will play 7 home and 7 away matches also. However, a mega auction will take place before the next season of the Indian Premier League. And, according to the reports, each franchise can retain no more than 3-4 players and the franchises are likely to be given the option of the Right To Match (RTM) card as well.
