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Meet CVC Capital : The Proud Owners of Ahmedabad IPL Franchise | 2YODOINDIA

Meet CVC Capital : The Proud Owners of Ahmedabad IPL Franchise

There was a huge buzz in the cricketing circle as people want to know who would win the race of owning two new teams of the Indian Premier League. The final bids were submit by the representatives of the interested parties and later in the evening, the two names came out that were final.

A private equity and investment advisory firm with market commitments in excess of US$110 billion across Europe and Asian equity, credit and growth funds, CVC Capital is one of the biggest global players in the sports industry.

Their arrival in the Indian Premier League can only be a strong in the arm for the BCCI and the overall cricket industry.

Spain’s top football league La Liga agreed, in principle, to sell 10% of its commercial business to CVC Capital for around US$3b.

In the run-up to this La Liga deal, the private equity player had almost reache a settlement for a similar deal with Italy’s Serie A in the league’s media rights business.

With over 25 offices globally, and with over 23 years in investment track records in sport, one of the world’s leading private equity investors’ arrival into the IPL in global spotlight and is a huge gain in the arm for the Indian cricket administration.

CVC Capital had offer a huge US$2b about 15 years ago to buy Formula One.

It was a time when a number of racing teams were entangle in pay disputes and at a time when F1 founder Bernie Ecclestone dominated the league.

Formula One turn into one of CVC’s most profitable investments and is estimated to have made close to US$4.5b on its initial US$1b stake, marking a 450% return.

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As far as their presence in India is concern, they own a majority stake in Healthcare Global Enterprises Ltd & technology and UnitedLex Corporation.

Arun Dhumal, BCCI treasurer, Said :

“They’ve been phenomenal the way they’ve gone about with their sports businesses. This is a huge shot in the arm for the IPL and league has well and truly arrived on a global stage now,” .

CVC has invest in Moto GP from 1998 to 2006, the Premiership Rugby from 2019 to present, the United Rugby Championship from 2020 to present, the Six Nations from 2021 onwards and the Volleyball Worlds from 2021 onwards and has always talk itself up from a long-term growth perspective.

This is not the first time CVC has gone for an IPL franchise.

Some years ago first with Rajasthan Royals and then with Delhi Capitals, but deals that did not work out.

The IPL is the gem in India’s sporting landscape that everyone wants a piece of.

Most investments have been either family own or back by individuals who have their own unique brand value.

An investment from CVC is a first of its kind.

Rajasthan Royals recently did a deal with US-base investors Redbird Capital.

But nothing comes close to this,” say sources tracking this space.

The BCCI, that was desperate to showcase that IPL is indeed on the verge of moving on to the next level.

The IPL 2022 season will comprise ten teams and will have 74 matches and each team will play 7 home and 7 away matches.

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