IPL Trophy. (BCCI/IPL Photo)
IPL Trophy. (BCCI/IPL Photo)

CVC Capital, an investment firm, is all set to get the green signal from BCCI ahead of IPL 2022. Notable that the company’s links to online betting and gambling companies became the big hurdle to their participation in IPL. Earlier the firm bought the rights for Ahmedabad based team after a successful bid of Rs 5625 crores while the other new addition- Lucknow based franchise is owned by Sanjiv Goenka group with the price tag of Rs 7090 crores.

A day after CVC Capital was announced as the successful bidder, the news about its links with betting and gambling companies broke out as the former IPL chairman tweeted about the same.

CVC Capital
CVC Capital

Former IPL chairman Lalit Modi tweeted, “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?”

In its recent annual meeting, the BCCI office-bearers discussed CVC Capital developments. They were informed that the firm has two funds- European funds and Asian funds. It’s their European funds that have been linked to betting and gambling companies but as far as IPL investment is concerned they used it from their Asian funds. So they will likely get the clean chit soon. CVC Capital will be given a ‘Letter of Intent’ soon as the legal committee has given the green signal, as told by a BCCI official.

Mega auction to be held in Bengaluru

CVC Capital Set To Get The Clearance From BCCI, IPL Mega Auction To Be Held On February 12 And 13 1
IPL auction (File photo)

Meanwhile, BCCI extended the deadline for the two new franchises to sign three players before the Mega Auction. Earlier the deadline for the same was December 25.

Also, the BCCI officials confirmed that the Mega Auction for IPL 2022 will be held on February 12 and 13 at Bengaluru. Notable this time IPL will be a 10-team affair. BCCI also asked various boards to submit the list of the players who will go under the hammer.

Soon IPL governing council will have a meeting with the IPL franchises to discuss the plans for IPL 2022.

Also read BCCI Contemplating Franchises Meeting To Unveil Plan B For IPL 2022 If Omicron Cases Rise