Lalit Modi highlights new IPL franchise owner CVC's links to betting companies
The Hindu
As per CVC’s website, it has investments in companies like Tipico and Sisal which are involved in sports betting
Former Indian Premier League (IPL) boss Lalit Modi has questioned the entry of private equity firm CVC Capital Partners in the IPL due to its investments in companies linked to betting activities.
CVC, which calls itself a "world leader in private equity and credit with $125 billion of assets under management", shelled out ₹5625 crore for buying the Ahmedabad franchise in the world's biggest T20 league, last week.
The Lucknow franchise went to RPSG Ventures for ₹7090 crores.
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