From the IPL 2022 season, 10 teams will play in the league instead of 8. For which 2 new teams were recently auction. Through this, more than 12000 crores are coming into the bag of BCCI, but at the same time, the controversy has also started.
World’s Legendary Players, Glamor, and Money Rain
The Board of Control for Cricket in India (BCCI) has included two new teams in the Indian Premier League (IPL). A huge amount worth thousands of crores is going to come in the bag of the board. The expansion of this league and the attractiveness of investors about it have caught everyone’s attention. But with the rain of the world’s legendary players, glamor, and money, this league has also associate with controversies from the beginning and now a new dispute has started regarding one of the two new teams.
CVC Capitals Relationship With Betting Companies
claimed in a report. That CVC Capitals has ties to betting companies and that the company has made significant 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 many companies offer the opportunity to bet on live matches related to different sports and people also take part in it fiercely.
A question Raised on The Procedure, BCCI Does not See Anything Wrong
The report quoted top sources as saying that BCCI’s attention has drawn to this aspect and everyone is surprised how this aspect has not been noticed during the scrutiny process of bids of all the companies. However, the Board does not see anything wrong in this and believes that betting and match-fixing should not be seen together. Quoting an official associated with the board, the magazine said,
Stake in Betting Company
CVC Capital is a private equity and investment advisory firm. And they are free to buy a stake in any betting company. Because it is legal in foreign countries. Irelia Company Pte Ltd (through which CVC Capitals bid) will be managing multiple funds. But unless they have a controlling or management role in those companies, what difference does it make? Betting is a matter of understanding, it should not be confused with match-fixing.
Ahmedabad Franchise Bought for 5600 Crores
The BCCI had floated tenders 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 claims. 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 Ahmedabad franchise for Rs 5600 crore