The CVC Capital Partners, which recently own the rights for Ahmedabad franchise in the Indian Premier League (IPL), has got into trouble after their connections with betting companies were reported.
There are reports that CPC Capital has invested heavily in speculative and gambling companies.
CVC Capital won the ownership of the Ahmedabad franchise by making the second highest bid of Rs 5,600 crore. He left behind the Adani Group, which had made an offer of Rs 5,100 crore. A source involved in the auction process said Adani Group would consider its options, but no formal complaint has been made yet.
Meanwhile, former IPL chairman Lalit Modi tweeted on this matter and said, “I think betting company can buy IPL team. There is a new rule. Obviously the bidder also owns a large betting company. BCCI did not do its homework. What will Anti Corruption do in such cases?”
In the year 2013, the IPL got a lot of notoriety due to match-fixing and betting. For this reason, Chennai Super Kings and Rajasthan Royals were banned for two editions.