Last month, BCCI has inducted two new teams into the IPL. These two franchises are Lucknow and Ahmedabad. While RPSG Sanjiv Goenka Group bought the Lucknow franchise, CVC Capitals bought the franchise of Ahmedabad. Now, it looks like CVC is in a trouble due to its alleged connection with betting companies.
According to a Cricbuzz report, BCCI is currently investigating the issue. Apparently, the board is planning to set up a neutral panel to look into the matter. This panel consists of judges from Supreme Court, High Courts and also other legal big wigs. BCCI is planning to hold an IPL Governing Council’s meeting on December 4, to discuss the issue.
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The website of CVC Capitals features Tipico and Sisal, which are betting organizations. While Tipico is an online gaming betting portal, Sisal is a payments company. As betting is illegal in India, IPL franchises should not have any connection with the betting companies.
CVC Capitals bought the Ahmedabad franchise for Rs. 5625 crores. If they lose the ownership of the Ahmedabad franchise now, the rights will be shifted to Adani Group, which had placed the next highest bid. The Adani Group placed a bid of Rs. 5100 crores.
IPL’s first chairman Lalit Modi pointed out that CVC Capitals is a parental company for betting portals. He questioned how BCCI handed them over a franchise without doing any homework.
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“I guess betting companies can buy a @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?” he tweeted.