IPL 2022: CVC Capital at risk of losing Ahmedabad IPL franchise after links with betting companies

CVC Capital Partners, who were awarded the Ahmedabad franchise by the BCCI in Dubai on Monday, has run into trouble for its links with betting companies. It has been pointed out that CVC Capital have invested heavily in betting and gambling companies.

BCCI added two new franchises to the league for the next season, in which Ahmedabad-based franchise CVC Capital has bought and such information has come to the fore, which has raised questions on BCCI and the company on the franchise.

The bid is also under doubt. CVC has claimed that CVC Capitals has links with betting companies and the company has made substantial investments in betting and gambling related companies. Betting or gambling is not legally recognized and banned in India and in such a situation there is a possibility of increasing match-fixing.

However, betting is legal in many countries and there many companies offer the opportunity to bet on live matches related to different sports and people also take part in it fiercely. However, due to its not being allowed in India, questions have been raised on BCCI selling the franchise to this company.

The BCCI had floated the tender for two new teams in August this year itself and then gave bidding time till October 20. Some foreign companies, including many major companies of India, had also staked claim.

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On Monday 25 August, the board opened these bids in Dubai, after which the country’s famous company RP-SG got the franchise of Lucknow at a bid of Rs 7090 crore, while CVC Capitals got the franchise of Ahmedabad for Rs 5600 crore.

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