Confusion seems to have subsided over CVC Capital’s bid for the Ahmedabad franchise in the Indian Premier League (IPL). According to the report, BCCI and CVC Capital discussed for several hours, after which the BCCI came to the conclusion that CVC Capital was “fit” to own an IPL franchise.
BCCI, October 25, announced RPSG Group and CVC Capital Partners as owners of two new IPL franchises. While RPSG Group has won the Lucknow franchise at INR 7090 crore, CVC has chosen the Ahmedabad franchise with a winning bid of INR 5625 crore.
However, the CVC’s bid got into trouble after former IPL chairman Lalit Modi criticized the Indian Cricket Board for their decision. He slammed the BCCI, tweeting that a “new rule” would certainly allow “betting firms” to buy IPL teams. Read his tweet:
“I think betting companies can buy an IPL team. There has to be a new rule. Obviously, a qualified bidder also owns a big betting company. What next? Doesn’t the BCCI do their homework? What can anti-corruption do? #Cricket. “
On Wednesday, though, the BCCI seems to have resolved all issues with CVC Capital. According to reports, CVC Ahmedabad has signed a Letter of Intent (LOI) with BCCI for ownership of the franchise.
Earlier, in addition to Modi, a report in Outlook claimed that CVC Capital was under scanner for links with betting companies. The report states:
“CVC Capital Partners has been in trouble for its links with the betting company. It has been noted that CVC Capital has invested heavily in betting and gambling companies. Long “verification stages” have been observed before the financial opening in the evening
IPL 2022 will be a 10 team event with 74 matches
While announcing RPSG Group and CVC Capital Partners as the two owners of the new IPL franchise, BCCIO has confirmed that IPL 2022 will be a 10-team tournament.
The upcoming edition of the T20 League will feature a total of 64 matches, with each team playing 6 home and 6 away matches.
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Before IPL 2022, there will be a mega auction, where most of the players will be seen going back to the bidding battle. According to media reports, each franchise will not be able to keep more than 3-4 players before the mega auction.
Franchisees are also expected to be offered the Right to Match (RTM) card option.