IPL 2022: CVC Capital gets letter of intent – After a long three-month hiatus, CVC Capital has got some relief as the BCCI handed over the Letter of Intent to the US-based firm to operate the Ahmedabad IPL franchise. CVC Capital paid Rs 5,625 crore to win the bid for the new franchise. Follow IPL 2022 Auction Live Updates on InsideSport.IN.
The reason for long delay is due to their alleged links with betting companies. However, BCCI’s independent committee cleared the firm of the links last month. InsideSport last week reported that the team will receive the letter of intent this week.
On Monday, CVC Capital was virtually promised the LOI. They will receive the official document after IPL Governing Council meeting on Tuesday.
IPL 2022: CVC Capital gets ‘Letter of Intent’ from BCCI to operate Ahmedabad franchise, all set for debut in IPL 2022
After BCCI’s independent committee gave the firm green signal, CVC Capital was asked sign a fresh contract with the Indian board. The franchise officials were in Mumbai to sign the IPL franchise contract.
IPL 2022: Hardik Pandya to lead Ahmedabad? – Meanwhile, the Ahmedabad franchise has already begun working on their draft picks. They are in talks with former Mumbai Indians and India all-rounder Hardik Pandya besides his brother Krunal Pandya and Afghan spinner Rashid Khan. Another former Mumbai Indians player Ishan Kishan has also been linked with a move.
IPL 2022: CVC Capital gets ‘Letter of Intent’ from BCCI to operate Ahmedabad franchise, all set for debut in IPL 2022
The two new franchises — Lucknow and Ahmedabad — can spend up to Rs 33 crore on the three draft picks.
The India all-rounder who is recovering from a back injury is likely to lead the Ahmedabad franchise in their debut season in IPL. Rashid Khan, the best T20 spinner currently, is the second on the list to be picked. The Afghan spin wizard left Sunrisers Hyderabad after a failed salary negotiation and is all set to move to a new team. Spin all-rounder Krunal Pandya has also been linked with a move to the franchise.
IPL 2022: CVC Capital gets ‘Letter of Intent’ from BCCI to operate Ahmedabad franchise, all set for debut in IPL 2022
Hardik Pandya and Krunal Pandya played for Mumbai Indians since 2015 before parting ways. His poor fitness and off form forced MI to release him ahead of the auction. Krunal Pandya made his IPL debut a year later and was part of the title-winning team.
IPL 2022: CVC Capital gets ‘Letter of Intent’ from BCCI to operate Ahmedabad franchise, all set for debut in IPL 2022
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