Lucknow, Ahmedabad set to join IPL fold
The Hindu
GC to ratify formalities for new teams, decide auction details and discuss venues
Ahmedabad and Lucknow are set to be formally included in the IPL family on Tuesday. The IPL governing council (GC) will ratify the formalities which have been delayed because of confusion over the legality of the Ahmedabad promoters.
“It has been decided to release the Letter of Intent (LoI) to the Lucknow and Ahmedabad promoters after tomorrow’s GC meeting,” IPL governing council chairman Brijesh Patel told The Hindu on Monday.
Despite RPSG Group (₹7,090 cr.) and CVC Capital Partners (₹5,625 cr.) being announced as the owners of the Lucknow and Ahmedabad franchises respectively, the formalities had been delayed after doubts were raised over CVC Capital’s alleged involvement in sports betting business.