The 2022 edition of IPL is going to be a 10-team affair with the addition of two new franchise-Lucknow and Ahmedabad.
Sanjeev Goenka’s RSPG Group acquired the rights for Lucknow franchise for a whooping amount of INR 7090 crore. CVC Capital on the other right acquired the rights of Ahmedabad franchise by paying INR 5600 crore.
Gautam Adani’s bid of INR 5000 crore was outbidded by CVC Capitals.
CVC Capitals have recently brought a stake in La Liga. The company also made deals in Formula One, Moto GP, and British Rugby league as well. They have now entered into cricket too by buying Ahmedabad franchise.
CVC Capitals is a leading British equity firm with a net worth of about US$111 billion. In total, the Group manages assets worth of about US$70 billion.
CVC was established in the year 1981 with its headquarters located in Luxembourg. CVC is a leading company in private equity and credit with $125 billion of assets under management, $165 billion of funds committed. It has a total of 25 offices globally- 16 across Europe and the Americas and 9 in the Asia Pacific region.
In the year 2018, CVC acquired some stakes in Spanish football league-Laliga. They will be receiving 10% of the profits for the next 50 years.
In the year 1998, CVC Capital bought Moto GP brand Dorna for €71.5 million. They sold it in 2006 at 700% profit for €525 million. CVC also invested in Formula 1 in the year 2017.
In the year 2020, CVC acquired a 27% stake in Premiership Rugby, the first division of English clubs. in 2021, the company added 14% of the rights for the Six Nations and 28% of the Pro14 tournament. It took their investment total in the sport to around €800 million.