Manchester United’s owners, the Glazer family, are reportedly interested in buying a franchise team in the Indian Premier League (IPL). Manchester United is one of the world’s most richest and popular football clubs.
Earlier this month, the BCCI issued an Invitation to Tender (ITT) document which allows parties that are interested in buying one of the two new franchises to register their interest. In order to do so, they have to pay a tender fee to purchase an ITT. It will then allow them to bid for a franchise provided they meet the eligibility criteria.
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. According to a report from the Times of India, the Glazer family have picked up the ITT and they are among a number of interested parties.
“So, technically, overseas investors are eligible to submit a bid if they meet these conditions. We don’t really know whether Manchester United will come to the bidding table. What we certainly know is that they’ve shown interest.” The TOI source said
BCCI postpones the sale of Invitation to Tender (ITT)
In another development, the BCCI has postponed the sale of Invitation to Tender (ITT) by 10 days. “Pursuant to requests from various interested parties, BCCI has now decided to further extend the date. For purchasing the ITT document till October 20, 2021,” the BCCI said in a statement on October 13. The BCCI has, however, confirmed that the postponement will not delay the sale of the teams. The final date for the sale of ITT is October 25.
As per news agency PTI, major business houses such as Sanjiv Goenka Group, and Adani Group are interested in joining the IPL bandwagon. The BCCI is hoping to earn a minimum of Rs 7000 crore. The base price for each team has been set at Rs 2000 crore.