Last Update on: October 21st, 2021 at 10:27 am
The owners of Manchester United Football Club have shown interest in buying an IPL franchise. Manchester United is one of the world’s most popular football clubs in England. The Glazer family that owns and runs the club has shown interest in buying an IPL franchise.
Two more teams are going to be part of IPL 2022. BCCI has finalized a plan to add two more teams to the Indian Premier League from next year, and the tournament will be a 10-team event. BCCI has started the procedures of finalizing the two new franchises. As a result, a mega auction will also take place next year ahead of next year’s tournament.
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Manchester United Owners Show Interest In Two New IPL Franchises
The Manchester United owners have reportedly picked up the Invitation To Tender (ITT) floated by the BCCI. The club owners are also tracking the developments in the matter. BCCI floated the ITT for the new franchise recently. The IIT asks for closed bids which need to be submitted by the last week of October.
The bidders are expected to submit an average turnover of Rs. 3000 crore or a net worth of Rs. 2500 crore. Only the bidders with these criteria will be eligible to bid. However, after some potential bidders urged BCCI to lower the value in eligibility criteria, BCCI has reworked on the average turnover clause.
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BCCI has also allowed foreign entities to buy the ITT and submit the bid. However, there is a condition that if they win the bid, they will have to set up a company in India. October 20 was the deadline to pick up the tender documents from BCCI, which were available at a price of Rs. 10 lakh.
Some groups that have picked up the ITT from BCCI are Adani Group, Torrent Pharma, Aurobindo Pharma, RP-Sanjiv Goenka Group, Hindustan Times Media, Jindal Steel, and entrepreneur Ronnie Screwvala.
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The topmost cities that will be favourite for the investors for the new franchise are Ahmedabad, Lucknow, Guwahati, Cuttack, Indore, and Dharamsala. Ahmedabad will be a top priority due to the newly built Narendra Modi Cricket Stadium that has a capacity of more than 1 lakh spectators.