Marquee club Manchester United owners show interest in IPL franchise

Bidding for the team, however, won’t be an easy task considering that BCCI has certain strict eligibility criteria for foreign buys.

The famous Glazers family, marquee owners of English-based football club Manchester United has reportedly shown interest in the Indian Premier League. According to a report of TOI, the US-based family has picked up the Invitation of Tender (ITT) by BCCI, through a private equity company. It indeed does not come as a surprise considering the grandeur that IPL possesses. Currently, IPL is one of the most valuable T20 leagues around the world.

Bidding for the team, however, won’t be an easy task considering that BCCI has certain strict eligibility criteria for foreign buys. For starters, the potential bidders will have to submit an average turnover of Rs. 3,000 crores and a personal net worth of 2,500 crores. Also, the foreign clients are provided the ITT on the condition that if they win the bid, they will be required to set up a company in India.

The tracking developments as per TOI said, “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.” Adani group, Torrent Pharma, Aurobindo Pharma, RP-Sanjiv Goenka Group, etc. are among the other bidders who have taken up the ITT. The deadline to pick up these tenders according to BCCI was the 20th of October. These documents were available at the price of Rs 10 Lakhs.

Also since in the next edition of IPL, two new teams are going to make their debut, for which Ahmedabad, Lucknow, Guwahati, Cuttack, Indore, and Dharamsala are the top most cities on the minds of the investors as they go about preparing for the bidding.

 

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