IPL 2022: When IPL was conceptualized, it was meant to revolutionize Indian cricket. Maybe the IPL has not reached its true potential yet, but it has to no doubt etched its place in Indian hearts. However, it has not remained away from controversies.
The BCCI introduced two news teams through an auction right after the IPL 2021 was over. Some of the biggest names in the business world bid an incredible amount of money for ownership of these two teams. Finally, CVC Capital Partners got hold of the Ahmedabad franchise while RPSG Group grabbed Lucknow for IPL 2022.
CVC Capital, which paid Rs 5,625 crores to own the Ahmedabad team, is now amidst controversy. Things are so messy that they have even invited an investigation action against themselves.
The CVC Capital has connections with a few betting companies, and BCCI will investigate this matter now. BCCI is also likely to set up a panel of neutral experts to probe. The panel might have judges from Supreme Court and High Court. Also, the IPL governing council will meet on 4th December 2021 to look further into this issue and decide the fate of IPL 2022.
Betting Firms Buying Indian Premier League Teams, BCCI Not Done Homework – Lalit Modi
Once the deal was done and CVC Capital came into the picture, Lalit Modi, former commissioner of IPL, raised a few questions. He was the first to point out that CVC Capital has some interest in betting companies.
Also, he mentioned that BCCI organized the auction for IPL 2022 and accepted the bids without doing homework. Modi also pointed out the fact that the anti-corruption unit of the Indian Premier League is powerless in cases where a betting company is allowed to own a team in the tournament.
Initially, BCCI gave a clean chit to CVC Capital and termed their bid legal. Hence, BCCI had no issues with the company. Now, BCCI has released an official statement, and the ownership rights of CVC Capital might be in danger in relation to IPL 2022.
On the website of CVC Capital, the names of two companies, Tipico and Sisal, are there. Tipico is a German sports betting company. CVC Capitals has been the major shareholder of Tipico since 2016. Sisal is an Italian company operating in the gambling and betting industry.
Adani Group Might Finally Own A Team in IPL 2022
It is said that one man’s loss is another man’s gain. It might prove right in the next few days. If CVC Capital’s bid is illegal, Adani Group might get ownership rights over the Ahmedabad team in IPL 2022.
Adani Group made a bid of Rs 5100 crores for this franchise, and CVC Capital outperformed them. As the Adani Group is the next highest bidder, the ownership might go in their hands.
During the auction, Adani Group was one of the most serious buyers out there to pick a team for IPL 2022. The company was very aggressive in placing the bid. Numerous reports suggested that the Group was about to sign on the dotted lines.
However, CVC Capital made their entry at the last moment and ceased the deal with a bid of Rs 5,625 crores.