The Indian Premier League has been a fantastic platform for the young players to set their foot in competitive cricket and run shoulders with the best T20 cricketers all around the world. It has given many cricketers like Hardik Pandya, Rishabh Pant, Jasprit Bumrah to the Indian team, while Rashid Khan and Glenn Maxwell have prospered well in the league.
The tournament has helped the growth of Broadcasting platforms, sponsors, Franchises, and BCCI as well. With the viewers increasing in an exponential manner, the tournament is getting traction from corporates all around the world, which was quite evident in the recently concluded Bids for two new teams of IPL.
CVC Capital Partners are the owners of Ahmedabad franchise that will feature in the Indian Premier League from IPL 2022. They are headquartered at Luxembourg and is a global equity firm established in 1981 having offices around America and Europe. Their current net worth is around 125 Billion Dollars.
They have an experience of investing billions of dollars worth of money in various sporting leagues like La Liga, NBA and Formula 1. They also have a vested interest in betting business, and have bought out gambling companies over the last few years. The team is expected to expand their presence in India, with the recent acquisition of the franchise in IPL.
CVC Capital Partners Teams Owned
The CVC Capital Partners have an investment in various sports like Football, Rugby, Volleyball, and Cricket. In 2006, they bought a 63% stake in Formula One Championship, and then sold it in 2017 with a massive profit. In the current scheme of things, the equity firm has a 10% stake in La Liga and Serie A, shelling out 2.7 Billion and 1.7 Billion Euros respectively. They also hold a 27% stake in Premiership Rugby, which is a professional competition organized in Europe.
In a partnership with Federation of International Volleyball, they launched Volleyball World for staging key international Volleyball tournaments and helping in the growth of game. In 2021, they won the bid for owning an Ahmedabad franchise in the IPL.