IPL: All you need to know about CVC Capital Partners

In a dramatic turn of events, the CVC Capital Partners pipped the Adani Group to bag the Indian Premier League (IPL)’s Ahmedabad franchise for a whopping Rs 5625 crore.

According to its website, CVC was established in 1981 and 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 offices:   -  Sportzpics

In a dramatic turn of events, the CVC Capital Partners pipped the Adani Group to bag the Indian Premier League's (IPL) Ahmedabad franchise for a whopping Rs 5625 crore. One of the active private equity investors in sports, the CVC Capital Partners have invested heavily in the European and Asian markets - promoting volleyball, rugby unions, Formula One and Moto GP.

Based in Luxembourg, the company bought the Moto GP brand Dorna in 1998 for €71.5 million but sold it in 2006 for €525 million - a profit of 700 per cent.

In August, La Liga agreed on a € 2.7 billion deal with the CVC to create a new business that will take control of most of its activities, where CVC Capital Partners will hold a 10 per cent stake. However, the decision was challenged by Barcelona, Real Madrid and Athletic Bilbao.

READ: IPL: RPSG bags Lucknow franchise for record bid, CVC gets Ahmedabad team

In 2017, the company created waves in the Formula One circuit, selling its stake to Liberty Media for a ‘significant profit’.

Over the years, the company has diversified into other sports and in 2020, it acquired a 27 per cent holding in Premiership Rugby - the first division of English clubs. This year, it added 14 per cent of the rights for the Six Nations and 28 per cent of the Pro14 tournament, taking their investment total in the sport to around €800 million.

According to its website, CVC was established in 1981 and 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 offices: 16 across Europe and the Americas and nine in the Asia Pacific region.”

While the company has enjoyed success in other sporting disciplines, this will be the first time it will be investing in cricket. With the IPL creating a huge business model for Indian and global markets, CVC hopes to reap the benefits.

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