The Board of Control for Cricket in India (BCCI) will be investigating the owners of the Ahmedabad franchise, the CVC Capital Partners, after reports emerged of their links to betting companies and firms.
The CVC Capitals put in the highest bid of INR 5625 crores for the Ahmedabad franchise and ended up winning the ownership of the team that will play in IPL 2022. However, they are now under the cosh as the BCCI is setting up a neutral panel to look into the alleged connection to betting companies.
The company’s website also has data that indicates confirms that they have two betting firms in their ‘portfolio companies’ list – Tipico and Sisal. While Tipico is an online gaming betting company, Sisal is a payments firm.
Adani Group will be the new owners if CVC Capitals are disregarded
After CVC Capitals, the Adani Group had the highest bid of INR 5100 crores. Therefore, they will be the new owners if the BCCI decides that they don’t want to be associated with CVC.
“The formalities haven’t yet been completed, the BCCI legal team is going through it, and we are expecting them to revert us post-Diwali. The BCCI has full rights on whom they will allow the team, it’s the board’s discretion, and we can only decide on a new IPL franchise (CVC) when the legal team reverts to us,” a source from BCCI was quoted as saying to Indian Express.
In regards to the same, an IPL Governing Council meeting has been set up on December 4 to discuss the matter. The above-stated panel is also set to include some big names, including a retired High Court or Supreme Court judge.