The Board of Control for Cricket in India (BCCI) has reportedly given nod to CVC Capital Partners, an investment firm, whose links to online and Online Betting Websites and gambling companies had been a question after its successful bid for the new Ahmedabad IPL franchise. It has been noted that the CVC Capital will be given a ‘Letter of Intent’ soon as the three-member legal committee has given the green signal. CVC was the second highest bidder when two new IPL teams were auctioned in October.
CVC Capital is gearing up for the Auctions after BCCI reportedly clears them
CVC had won the rights to own the Ahmedabad franchise for Rs 5,625 crores, while Sanjiv Goenka’s RPSG Group bagged the Lucknow franchise for Rs 7,090 crore. A day after CVC was announced as the successful bidder for the Ahmedabad franchise, reports emerged that they have links with betting companies abroad.
Under the ‘portfolio companies’ list on the CVC Capital Partners’ website is Tipico, a sports betting and online gaming company, and Sisal, a betting gaming, and payments, consumer/retail company. The CVC has invested in Formula 1, football, and rugby and IPL franchise ownership will be their first entry in the Indian cricket market.
In its recent BCCI annual general body meeting, the BCCI office-bearers had reported about the CVC development. The members were informed that CVC has two funds, European funds and Asian funds. While its European funds have links with (sports) betting companies, where betting is legal, its Asian fund is clean. CVC had invested from their Asian fund, a BCCI official had said.
The BCCI has also decided to extend the deadline for the two new IPL teams to sign three players before the mega auction set to be held in February. The earlier deadline for new teams to sign players was December 25.
Cricbuzz claimed that the portal spoke to each franchise owner of IPL 2022 to confirm the auction dates. Going by the reported chat, it has been revealed that the Auction will be held on a couple of dates- February 12 and 13.