MUMBAI: More than three months after they bought the Ahmedabad franchise for Rs 5,625 crores, CVC, the American company which acquired the team, and the Board of Control for Cricket in India are yet to sign a formal agreement. In other words, CVC is yet to get the 'Letter of Intent' from the BCCI.
While the BCCI has been tight-lipped and secretive on the status, TOI has learnt from a source in the know of things that the Board is awaiting clearance from a "few important agencies" before signing the agreement with CVC, who bought the Ahmedabad team in the IPL auction for the two new teams on October 25.
"Since the team involves foreign investors as owners, the Board is awaiting clearance from a few important agencies before signing the LOI," a source told this paper.
It's also believed that the lawyers of the BCCI and CVC have been busy thrashing out the fine details of the agreement. With the issue proceeding at a snail's pace, it looks difficult if the new IPL teams will be able to announce players acquired by them within the IPL timeline. It remains to be seen if this delay results in the postponement of the IPL auction on Feb12-13 in Bangalore as well.
On its part, CVC is looking to hire former India pacer Ashish Nehra as its team's head coach, with ex-India coach Gary Kirsten as its mentor. Ex-England batsman Vikram Solanki is likely to become the batting coach of the side.
