Manchester United Owners Show Interest in Joining IPL Bandwagon: Report

·2-min read

The next edition of the IPL is set to have 10 teams from 2022, the BCCI has already announced with Invitation To Tender (ITT) floated by the BCCI through a private equity company.

And looking to get into the mix is Manchester United’s owners, the Glazer family, who, according to a report in Times of India have shown interest. The US-based owners of the Premier League’s club have reportedly picked up an ITT.

The ITT that had been floated by the BCCI in October has some strict regulations and needs potential bidders to submit an average turnover of Rs 3,000 crore or a personal net worth of Rs 2,500 crore, according to a BCCI statement.

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The average turnover clause however was reworked recently by the BCCI after certain potential bidders made a specific request.

“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.

Among others who have picked up the ITT and have shown interest in being part of the mix of the IPL 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.

According to the BCCI’s last statement, 20 October was the deadline to pick up the tender documents available at a price of Rs 10 lakh.

“A lot of people usually pick these tender documents to study and gather information that tends to be otherwise very useful from a larger industry perspective. For instance, buying a bid document will tell me more about what the BCCI is planning next, in terms of the league expansion, etc. For instance, if Disney has bought the tender document to buy the franchise, it doesn't mean Disney is interested in owning a franchise. It will study the document because it has to plan its own media rights landscape,” the report added.

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