Tuesday, 7 December, 2021
HomeSportsLalit Modi highlights new IPL franchise owner CVC’s links to betting companies

Lalit Modi highlights new IPL franchise owner CVC’s links to betting companies

Former IPL boss Lalit Modi has questioned the entry of personal fairness agency CVC Capital Companions within the Indian Premier League (IPL) attributable to its investments in firms linked to betting actions.

CVC, which calls itself a “world chief in personal fairness and credit score with USD 125 billion of belongings below administration”, shelled out Rs 5625 crore for purchasing the Ahmedabad franchise on the planet’s largest T20 league, final week.

The Lucknow franchise went to RPSG Ventures for Rs 7090 crores.

As per the corporate’s web site, it has investments in firms like Tipico and Sisal that are concerned in sports activities betting.

Betting just isn’t authorized in India. CVC additionally invested in Components 1 up to now and now has stakes in Premiership Rugby.

“I suppose betting firms can purchase a @ipl staff. should be a brand new rule. apparently one certified bidder additionally owns a giant betting firm. what subsequent? does @BCCI not do there homework. what can Anti corruption do in such a case?” Modi tweeted on Tuesday.

The IPL additionally attracted bids from homeowners of iconic soccer membership Manchester United.

A BCCI official advised PTI {that a} clear bidding course of was performed on Sunday in Dubai.

“Not one of the bidders within the room had any points with the bidding course of. It was executed in essentially the most clear method. The successful bids solely confirmed the rising world attraction of the IPL.”

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