The details of the owners of the two new franchises in the Indian Premier League (IPL) 2022 is finally out as CVC Capital Partners and RPSG Group bought the teams of Ahmedabad (INR 5600 crores) and Lucknow (INR 7090 crores respectively). The RPSG Group are making a comeback in the cash-rich league as they had earlier owned the now-defunct Rising Pune Supergiants during 2016 and 2017 editions.
On the other hand, the private equity player CVC Capital Partners is set to be the newest face in the greatest T20 league across the globe. Here’s everything you need to know about the owners of the Ahmedabad-based franchise ahead of the IPL 2022:
Who are CVC Capital Partners?
Headquartered in Luxembourg, CVC Capital Partners is a private equity and investment advisory firm which comes with assets worth over US$75 billion. According to Wikipedia, the company was founded back in 1981 and today has over 400 employees working across its network of 24 offices throughout Europe, Asia and the Americas.
Interestingly, this isn’t the first instance when CVC Capital Partners are venturing into the realm of sports as the billion-dollar organisation had recently bought the famous Spanish football league – LA Liga as well as the Formula One and Rugby.
The CVC Capital Partners surpassed the likes of Adani Group, Torrent Pharma, Hindustan Media Ltd, Glazer Family (Manchester United owners) etc. Here is the full list of bids shared by all the participants in Dubai auctions: