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Saturday, December 04 2021

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Betting companies can buy an IPL team, says Lalit Modi; CVC Capital under scanner; report

Betting companies can buy an IPL team says Lalit Modi

New Delhi: Former Indian Premier League (IPL) chairman Lalit Modi on Tuesday made serious allegations against one of the owners of the two new IPL teams that joined the lucrative league on Monday, saying that “even betting companies can buy team”.

The Indian cricket board (BCCI) named RPSG Ventures Limited and Irelia Company Pte Ltd. (CVC Capital Partners) as owners of the new IPL teams from 2022. RPSG Group bagged the Lucknow franchise by paying a whopping Rs 7,090 crore while CVC Capital made the second-largest bid (Rs 5,600 crore) to win the Ahmedabad franchise.

Soon after the Indian cricket board made the announcement, Lalit Modi took to Twitter to take a dig at the BCCI. “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? #cricket.”

Following the tweet, a report by Outlook further claimed that “CVC Capital under scanner for links with betting companies.”

“CVC Capital Partners has run into trouble for its links with betting companies. It has been pointed out that CVC Capital are heavily in betting and gambling companies,” the report said.

“BCCI’s attention has been drawn to CVC Capital’s business activities. It was strange that these were not noticed during the long “verification stage”. This was before the financials were opened on Monday evening. The Adani Group is weighing its options. A formal complaint is expected,” it added.

Despite several calls, the BCCI officials were unavailable to comment on the matter.

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