The Board of Control for Cricket in India (BCCI) is planning to begin an investigation over CVC Capital Partners’ links with some betting companies. They have bought the Ahmedabad franchise for a sum of INR 5625 Crores in the auctions and they are now in the limelight for their alleged connection with some betting companies. The Board is even planning to appoint a neutral panel to look into this issue as well. This panel is likely to consist of the Supreme Court and High Court judges as well as other legal personnel as well. Also, there will be a meeting of the IPL governing council on 4th December 2021 regarding this matter as well.
BCCI could award the ownership rights to Adani Group if CVC Capital Partners are disallowed
BCCI could take the call and disallow the CVC Capital Partners to own the Ahmedabad franchise. Next in line, the Adani Group, being the next highest bidder (INR 5100 Crores) will become the owners of the Ahmedabad franchise. The website of the CVC Capital Partners features Tipico and Sisal, both betting companies. While Tipco is a betting company for online gaming, Sisal is a payments company.
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The founder and the very first chairman of the IPL, Lalit Modi had tweeted on the day of the bids being finalized that the BCCI has started allowing betting companies to buy IPL teams. Modi also added that the BCCI has not done its homework.
“I guess betting companies can buy an 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 ?,” tweeted Lalit Modi.
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 there homework. what can Anti corruption do in such a case ? #cricket
— Lalit Kumar Modi (@LalitKModi) October 26, 2021
Highlights:
- BCCI will investigate links between CVC Capital Partners with betting companies
- Adani Group could be awarded the ownership rights if BCCI doesn’t allow CVC Capital Partners
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