CVC Capital Partners: All you need to know about Ahmedabad IPL Team Owners

IPL 2022 is set to be a 10 team affair after the inclusion of two new franchises in October. The RP-Sanjiv Goenka Group (RPSG) (Lucknow) and CVC Capital Partners (Ahmedabad) will join the league as the new owners for the next season of the Indian Premier League. The new teams have a chance to sign three players before the mega auctions take place in January. Retentions by the 8 existing franchises were announced on Tuesday and new franchises now can spend Rs 33 crore each on signing three players. 

There has been a lot of intrigue regarding the owners of the Ahmedabad franchises, who will likely play their home games at the world's largest cricket stadium. Let's have look at the owners:-

All about Ahmedabad team owners - CVC Capital Partners

CVC Capital Partners are a private equity and investment advisory firm who have invested heavily in European and Asian markets. CVC Capital Partners was founded in 1981 as the European arm of Citicorp Venture Capital. The CVC Capital Partners are also part of the multiple a group of companies responsible for the promotion of the FIA Formula One World Championship, and the exercising of the sport's commercial rights. Also, the CVC Capital Partners have the majority of the stake (63.4%) in F1 after it purchased the 14.1% share of SLEC held by Lehman Brothers in 2006. 

As per the Spanish website laligalowdown.com, in 1998, CVC bought Moto GP brand Dorna for €71.5 million, selling it in 2006 at 700% profit at €525 million. They also invested in Formula 1, selling their stake to Liberty Media in 2017. In 2020, they acquired a 27% holding in Premiership Rugby, the first division of English clubs, and then in 2021 added 14% of the rights for the Six Nations and 28% of the Pro14 tournament, taking their investment total in the sport to as much as €800 million.

CVC Capital Partners have their influence in the Spanish Football League - La Liga as well. As per reports, CVC agreed to invest €2.7 billion in return for 10% of the rights of the company in a 50-year agreement. 

The Company's official website says, "Established in 1981, CVC is a world leader in private equity and credit with $125 billion of assets under management, $165 billion of funds committed and a global network of 25 local offices: 16 across Europe and the Americas and nine in the Asia Pacific region. CVC is majority-owned by its employees and led by its Managing Partners."

CVC Capital Partners Owners

According to the company's official website, CVC's 34 Managing Partners have an average tenure of 15 years with CVC. Some of the prominent names are Taha Abdel Dayem (Investment Director), Lisa Abruzzese (Investment Executive), Sami Allouani (Director) and many more.

(Image: @IPL/Twitter)