Manchester United owners in race to acquire IPL team

Manchester United owners are in race to extend their sports business to Indian Premier League
Manchester United owners are in race to extend their sports business to Indian Premier League.

Indian Premier League might get an overseas franchises owner when two more teams will be added to cricket’s richest tournament. The Board of Control for Cricket in India will announce to the two new franchisees, extending the cash rich league to ten teams.

It is learnt 11 entities have bought tender documents, each priced at ₹ 10 lakh. Manchester United owners Glazer family has reportedly expressed interest in owning an IPL franchise. The Glazer family owns many sports properties including the famous football club Manchester United and also owns the famous American football club Tampa Bay Buccaneers which features in the National Football League (NFL), as it has picked up the bid documents for the new teams.

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The British entity will now have to win the bid, which is expected to cross ₹ 3,500 crore mark. Adani Group and RP Goenka, who in the past have owned the IPL Pune franchisee for two seasons, are among the strongest contenders.

The bidders can pick teams for the cities of Ahmedabad, Pune and Lucknow. Pune, which in the past has been home to an IPL team, it is learnt might lose the race to Ahmedabad and Lucknow.

The Adani Group, Torrent Pharma, Aurobindo Pharma, Hindustan Times Media, Jindal Steel (led by Naveen Jindal), Ronnie Screwvala and three private equity players have reportedly picked the ITT documents.

Wednesday was the last day to pick the ITT documents as the BCCI had extended the deadline by five days

Significantly, the deadline for the sale of ITT, the INR 10 lakh document, ended on Wednesday and the sale of the new franchise will be done in Dubai on October 25.

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