The BCCI on Monday named RSPG Ventures Limited and Irelia Company Pte Ltd. (CVC Capital Partners) as the owners of two new IPL teams – Ahmedabad and Lucknow from 2022 after 22 heavyweight entities were involved in the bidding. RSPG Group bagged Lucknow by paying a price of INR 7090 crore while CVC Capitals bagged Ahmedabad by paying a price of INR 5600 crore.
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CVC Capitals who bagged Ahmedabad with the second highest bid of INR 5600 crore has run into some trouble after its links with various betting companies. It has revealed that CVC Capitals have heavily invested in betting and gambling companies. It is reported that BCCI will be investigating in this matter and a formal complaint will be coming soon.
“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,” reports revealed.
“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. The Adani Group is weighing its options. A formal complaint is expected,” reports added.
The tournament’s reputation is already tainted due to the 2013 IPL betting and match-fixing scandal. Due to which IPL franchises like Chennai Super Kings and Rajasthan Royals were suspended for two years after some of their top officials were charged by the Supreme Court for corruption.
Former IPL chairman Lalit Modi did not like BCCI allowing companies who have heavily invested in gambling and betting to buy a new IPL franchise. Lalit Modi was the founder of Indian Premier League and he also served as the CEO of the tournament from 2008-2010. Lalit Modi took it to twitter and questioned BCCI on how they are allowing big betting companies to be qualified bidders. He also added that BCCI are doing a deep financial analysis of those coming to the bidding table. He also noted about the Anti-corruption factor not being noticed.
“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,” Lalit Modi tweeted.
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Following Lalit Modi’s tweet, a report by Outlook further claimed that “CVC Capital under scanner for links with betting companies.”
“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,” the report said.
“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. The Adani Group is weighing its options. A formal complaint is expected,” it added.
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