Tag Archives: Ahmedabad IPL

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

Former Mumbai Indians all-rounder Hardik Pandya is expected to lead the new Ahmedabad franchise in the upcoming Indian Premier League (IPL) season, likley to get underway in April this year, it has been reported.

Notably, Hardik was not retained by the Rohit Sharma-led Mumbai Indians ahead of the mega auction and was released by the five-time IPL champions.

As per reports, Hardik, who hails from Baroda in Gujarat, will lead the Ahmedabad franchise, owned by CVC Capital. however, an official confirmation on it is yet to be made by the franchise.

Meanwhile, several other reports have also suggested that former Indian seamer Ashish Nehra, who had earlier worled with Royal Challengers Bangalore (RCB) as its assistant coach. is likely to be named as the head coach of the Ahmedabad franchise.

Moreover, the Ahmedabad franchise, which is owned by the CVC Sports, is also looking to acquired the services of star Afghanistan all-rounder Rashid Khan and former MI wicketkeeper-batter Ishan Kishan.

Notably, CVC was one of two companies to have won bids to own the two new franchises in the cash-rich league from upcoming season.

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.

On Monday, it was reported that the new franchises of the IPL 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).

“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 saying Cricbuzz.

IPL media rights tender for 2023-27 cycle to be delayed further, says reports

The media rights tender of the Indian Premier League (IPL) for the 2023-2027 cycle, which should have been released by now, will reportedly take more time.

Earlier, the Board of Control for Cricket in India (BCCI) had announced that it would release it immediately after the finalisation of the two new IPL teams in late October however, it now seems that it would only come in December.

“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” the BCCI had said in a statement after a governing council meeting of the IPL on September 28.

However, it has been around a month since the Indian board finalised the two new teams of the cash-rich league but the media rights tender is yet to be  released.

As per reports, one of the main reason behind the delay could be the uncertainty surrounding the Ahmedabad franchise whose owners — CVC Sports — is yet to receive the Letter of Intent from the the Board of Control for Cricket in India (BCCI).

Although CVC Capital Partners had bagged the ownerhsip rights of Ahmedabad franchise for Rs 5625 crores on October 25, however, with the company acquiring a 100 percent equity stake in Italian gaming and payments operator, Sisal Group S.p.A. (“Sisal”), the matter became controversial.

Although betting, which is legal overseas, has not been legalised in India and as a result, CVC’s acquisition of the Ahmedabad franchise raised many questions following which there has been a delay from the Indian board in handing the Letter of Intent to CVC. Significantly, the Letter of Intent has already been submitted to the RPSG Group of Sanjiv Goenka, who had bagged the Lucknow franchise for a whopping Rs 7090 crores.

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

Meanwhile, the BCCI’s legal team is also monitoring and looking into the CVC files. It is likley that the team might form a committee to adjudicate on the issue.

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.

Another reason could be the upcoming Annual General Meeting (AGM) of the BCCI on December 4 when the new Governing Council of the IPL will be formed which will witness the addition of three new members.

The next edition of IPL is likley to be staged in the March-April window and a mega auction for it will most probably be held in December this year or January, 2022.

As of now, several reports claim that the media rights tender for the new cycle would be released only in December after the above mentioned hurdles get cleared by the BCCI.

Ahmedabad owner CVC yet to receive Letter of Intent from BCCI: Reports

Even after acquiring the Ahmedabad franchise in the cash-rich Indian Premier League (IPL), CVC Sports is yet to receive the Letter of Intent from the the Board of Control for Cricket in India (BCCI), reports have suggested.

On October 25, Luxembourg-based CVC Capital Partners had bagged the ownerhsip rights of Ahmedabad franchise for Rs 5625 crores. However, with CVC Partners acquiring a 100 percent equity stake in Italian gaming and payments operator, Sisal Group S.p.A. (“Sisal”), the matter became controversial.

Although betting, which is legal overseas, has not been legalised in India and as a result, CVC’s acquisition of the Ahmedabad franchise raised many questions following which there has been a delay from the Indian board in handing the Letter of Intent to CVC. Significantly, the Letter of Intent has already been submitted to the RPSG Group of Sanjiv Goenka, who had bagged the Lucknow franchise for a whopping Rs 7090 crores.

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

Meanwhile, the BCCI’s legal team is also monitoring and looking into the CVC files. It is likley that the team might form a committee to adjudicate on the issue.

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.

Private Equity player CVC Capital had recently bought LA Liga and also owns Formula One and Rugby teams.

Notably, as many as 10 parties had entered the bidding war on October 25 in Dubai and had got an option to choose from from six centres – Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore – to base their team in.

All the interested parties were asked to submit two envelopes – one for personal and financial credentials and the second for the bid and the entire process was overseen by the IPL Governing Council as well as the BCCI top officials like president Ganguly, secretary Shah, treasurer Arun Dhumal, vice-president Rajeev Shukla and joint-secretary Jayesh George.

Now after acquiring the teams, both the parties will need to pay the entire amount over a period of 10 years.

Before the team auctioning, a total of 22 entities had bought the Invitation to Tender (ITT) document from the BCCI, price of which was kept at Rs 10 lakh each.

The new franchises – Ahmedabad and Lucknow – will now be a part of the 15th edition of the lucrative league, taking the total number of teams to 10 from eight.

The next edition of IPL is likley to be staged in the March-April window and a mega auction for it will most probably be held in December this year or January, 2022.