BCCI Probes CVC Capital Partners Ties With Betting Companies

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The CVC Capital Group, which purchased the Ahmedabad team in the bidding for INR 5625 crores, are currently under examination for their suspected ties to several betting firms.

BCCI will now conduct a thorough investigation into this incident. In addition, the Board intends to form an impartial committee to investigate this matter as well.

This distinguished group is expected to include Supreme and High Court judges and also other legal figures. In addition, the IPL governing board will assemble on December 4th, 2021, to discuss this topic.

What about if the BCCI chooses not to grant CVC Capital Partners ownership of the Ahmedabad club? In such a situation, the Adani Group the 2nd highest bidder with (INR 5100 Crores) would become the owners of the Ahmedabad club.

Tipico and Sisal, two betting enterprises, are featured on the CVC Capital Partners webpage. Sisal is a finance firm, whereas Tipco is a betting site for online gaming. And, strange to add, betting is illegal in India.

I guess betting companies can buy an IPL team, tweets Lalit Modi

And, on the same day the bidding were closed, the IPL’s founder and first chairman, Lalit Modi, posted that the BCCI had begun permitting betting businesses to acquire IPL clubs. Modi also stated that the BCCI had not done its proper research.

“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.

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