People are well aware that The Glazers are the owners of Premier League giants Manchester United. The Board of Control for Cricket in India (BCCI) have already announced that the Indian Premier League (IPL) 2022 will see 10 teams with Invitation To Tender (ITT) floated by the BCCI through a private equity company. Now going by the recent reports, The Glazers are eyeing to buy a new team for the upcoming edition of IPL. It is to be noted that World-class player Cristiano Ronaldo is a part of Manchester United now and The Glazers are grabbing the headlines once again as they could be entering the world of most valuable T20 league.
The Glazers picked up an ITT for a new team in IPL
The US-based owners of the English Premier League’s club have reportedly picked up an ITT, as per the reports of Times of India newspaper. TOI stated that owners of Manchester United are tracking the developments with keen interest.
The ITT floated by the BCCI, one that has called for closed bids to be submitted in the last week of October, has some strict clauses. The potential bidders are expected to submit an average turnover of Rs 3,000 crore or a personal net worth of Rs 2,500 crore to be eligible to bid, according to a BCCI statement. The average turnover clause was recently reworked by the BCCI after certain potential bidders made a specific request to lower the value in order to meet the eligibility criteria.
“So, technically, overseas investors are eligible to submit a bid if they meet these conditions. We don’t really know whether Man U owners will come to the bidding table. What we certainly know is that they’ve shown interest,” the TOI report stated.
Others who’ve picked up the ITT are the Adani Group, Torrent Pharma, Aurobindo Pharma, RP-Sanjiv Goenka Group, Hindustan Times Media, Jindal Steel (led by Naveen Jindal), entrepreneur Ronnie Screwvala and three private equity players.
Ahmedabad, Lucknow, Guwahati, Cuttack, Indore and Dharamsala are among the cities that will remain in the mind of the investors as they go about preparing to bid for the two new franchises. The formal announcement is expected to be made on October 26th and the bids will be submitted in the UAE, where the T20 World Cup 2021 is going on.
- Man United owners- The Glazers could buy new IPL team
- They picked up ITT for new team