Ahmedabad: Speculation about CVC Capital’s credit continues to rise, questioning the successful bid of the Ahmedabad franchise in the Indian Premier League (IPL).
But information reveals that Global Private Equity Farm has already made its first financial investment. After receiving the award, at the request of the franchise company, it paid Rs 7.5 billion to the Cricket Management Board (BCCI) in India and is said to have signed an American investment company with sales of over 120 billion. All you need now is a sub-signature from the BCCI authorities.
The CVC is currently waiting for a signed document from BCCI that even Lucknow franchise owner Sanjiv Gaoenka’s RPSG Group is looking for.
According to the agreement, the two new franchisees will have to pay 30% of the bid in the first week of January. CVC won the Ahmedabad franchise for Rs 5625.
CVC Capitals’ proposal has been questioned for investing in a UK betting company, and the information speculates that BCCI will consider the entire transaction because links with betting companies are illegal in India.
The counter-argument to this claim was that CVCs investing in sky betting in the United Kingdom are not illegal under English law.
According to sources close to the investment firm. High-ranking BCCI officials have remained silent on the matter and are confident that it has been closed.
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Indian team calls of practice
Meanwhile, in a completely different development, the Indian team canceled the training scheduled for Friday.
Players learned needed to have a net session in Abu Dhabi. And team management felt that players would be better if they didn’t have a three-hour round-trip trip to the venue.
The team is staying at Th8 Palm in Dubai.
Since the gathering of Dubai earlier this month. The team has always been given to Dubai’s own driving range, primarily the ICC Academy Ground. But the location assigned on Friday was in Abu Dhabi, a 90-minute drive from Dubai.
“The players have been on the road for almost six months. And it was felt that they can do well without the travel to Abu Dhabi,” a team source said. The players, instead, spent the evening on the beach close to the hotel playing volleyball. The images of which the BCCI posted on its official social media handle.
Team sources have told the website that they will have a full session on Saturday.
The eve of their second league match against New Zealand.
When asked why the Indian team is training in Abu Dhabi, an International Cricket Council (ICC) official said the operational issue was BCCI and two hosts. The Emirates Cricket Commission (ECB). Said it was being processed by India, which lost to Pakistan in the opening round, will face Kiwi in an important Sunday match.
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