Tag Archives: CVC Sports

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.

Andy Flower steps down as Punjab Kings’ assistant coach

Andy Flower has stepped down as the assistant coach of the Indian Premier League (IPL) franchise Punjab Kings (PBKS) and is most likley to sign a new contract with one of the two new franchise for the next season of the cash-rich league.

Flower, the former Zimbabwe captain, had earlier worked as a coach in England for more than ten years. He was signed by PBKS ahead of the 2020 season of IPL. It was under Flower’s guidance when the England team had won the T20 World Cup title in 2010 and the number one spot in the Test rankings.

“It is correct, Andy has left Punjab Kings. He wanted to explore other opportunities and we respect that,” Punjab Kings co-owner Ness Wadia was quoted as saying by Cricbuzz.

Wadia, however, said that Flower will continue to remain the head coach of their Caribbean Premier League (CPL) franchise St Lucia Zouks.

The development comes at a time when KL Rahul, the PBKS captain for the past two IPL seasons, decided to part ways with the Punjab-based franchise, which had wanted to retain him for the upcoming season.

Earlier on Tuesday, Punjab had retained only two players — Mayank Agarwal and Arshdeep Singh — ahead of the mega IPL auction in January.

Meanwhile, several reports also suggest that Trevor Bayliss has too, decided to part his ways with Sunrisers Hyderabad (SRH).

Apart from the IPL, Bayliss, considered as one of the most successful coaches in the sport, had guided England to the Ashes and World Cup victories.

Bayliss had previously led Kolkata Knight Riders (KKR) to two IPL titles – in 2012 and 2014 – before coaching the England team.

The reports further suggest that both Flower and Bayliss are going to be associated with the Lucknow franchise while KL Rahul is also most likley to lead the side in the next IPL season.

Notably on October 25 in Dubai, the Sanjeev Goenka-owned RPSG group had acquired the Lucknow franchise for Rs 7090 crores. On the other hand, the Ahmedabad franchise went to CVC Sports for Rs 5625 crore.

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

These 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 January, 2022.

BCCI reaches to Solicitor General of India on CVC Sports issue: Report

The Board of Control for Cricket in India (BCCI) has 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.

Even as the CVC Sports had acquired the Ahmedabad franchise for Rs 5625 crores on October 25 in Dubai, the owners is yet to receive a Letter of Intent from the BCCI.

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.

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 has tried to convince the BCCI that its investment in betting firm, which has become a bone of contention, is not illegal and recently, 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.

However, now the initial recommendation from Solicitor General is believed to be positive.

“The initial recommendation from Solicitor General is believed to be positive but he is also understood to have advised the BCCI to take a second legal opinion. While it couldn’t be confirmed if the board has indeed gone in for a second opinion, those in the know have indicated that the matter is going to be settled soon, with a committee of legal experts at work,” a report in Cricbuzz stated.

Notably, the retention deadline for the existing eight IPL franchises has been set for November 30. However, the report suggested that due to the present circumstances, it may be extended by a week to allow both new franchises – Ahmedabad and Lucknow – equal number of days to figure out their own retentions.

Mega Auction for the next IPL season will be staged in December.

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.