Lucknow, Ahmedabad to receive Letter of Intent from BCCI after IPL GC meet

The two new franchises of the cash-rich Indian Premier League (IPL) – Lucknow and Ahmedabad – have received the virtual clearance from the Board of Control for Cricket in India (BCCI) however, the formal clearance will be given handed to them after a meeting of the Indian Premier League (IPL) Governing Council (GC) on Tuesday (January 11), it has been reported.

“The two teams have been cleared and we will issue the Letter of Intent (LoI) after tomorrow’s GC meeting. The teams are through by all practical purposes,” IPL chairman Brijesh Patel was quoted as sayong Cricbuzz.

Earlier in October last year, the Sanjeev Goenka-owned RPSG group and international investment firm – CVC Capital had bagged the ownership rights of the two new franchises of the IPL for Rs 7090 crores and 5625 crores respectively.

However, CVC Sports acquisition of the Ahmedabad franchise in the league had come under scanner following its association with the Milan-based betting company.

Significantly, CVC’s acquisition of the Ahmedabad franchise had raised many questions following which there has been a delay from the Indian board in handing the Letter of Intent to CVC.

CVC, an American firm, has been trying its best to explain to the Indian board that their investment in a UK betting firm is not illegal.

As per reports, the CVC had later tried to convince the BCCI that its investment in betting firm, which has become a bone of contention, is not illegal and moreover, few top CVC officials had flown to India to have talks with the BCCI office-bearers.

After CVC had acquired one of the two franchise, former IPL chairman Lalit Modi ruffled a few feathers by drawing attention to the companies association with the Milan-based betting company Sisal. “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,” Modi had tweetd.

Later, the Indian board reportedly discussed the CVC Sports matter to the Solicitor General of India – Tushar Mehta – who represents the board in matters not involving the Government of India and reports suggested that the initial recommendation from Solicitor General was believed to be positive.

The IPL 2022, which will now be a ten-team affair following the addition of the two new teams, is most likely to begin on April 2 in Chennai.

Although the fixtures of the upcoming season have not been finalised yet however, the board had internally conveyed to the key stakeholders that the board is planning to start the 16th edition of the lucrative league on April 2 in Chennai.

As the next season will have a total of 74 games, the BCCI has discussed internally that the length of the season will be for over 60 days. As a result, the final could be played in the first weekend of June.

News Desk

Read Previous

BCCI postpones Cooch Behar trophy knockout matches due to Covid-19

Read Next

Hardik Pandya likely to lead Ahmedabad franchise in upcoming IPL seson: Reports

%d bloggers like this: