The Glazer Family, which has several businessmen in the house, is currently showing interest in buying the IPL franchise for the 2022 tournament. The family already owns famous clubs like Manchester United and the Tampa Bay Buccaneers. They have collected the invitation tender to buy the two new teams for the IPL 2022 tournament.
The Glazer Family’s Interest In IPL Teams
As we already know, IPL 2022 will have two more teams joining the squad to make the competition even more exciting. However, the owners of these two new franchises are still undecided. Last we heard, BCCI conducted a closed bidding where RP Sanjeev Goenka Group, Hindustan Times Media, Adani Group, Jindal Steel, entrepreneur Ronnie Screwvala, the pharmaceutical firm Torrent were some of the prominent candidates to own the two new teams.
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However, it looks like the tables have turned for better or worse because the famous Glazer Family is showing interest in buying one of these two new franchises. The Glazer family owns the renowned football club Manchester United, so their participation in the IPL will add a new X factor.
According to our sources, the Glazer family has received the invitation to tender from BCCI through a private equity firm. Although many other people receive the ITT, that doesn’t mean they will have ownership of the teams. This document simply lets the invitees know what BCCI is planning next for the IPL expansion. So, anyone can buy this document and keep track of the cricket franchise’s activities.
How Does It Work?
The bidders will have to submit authentic documents to the BCCI proving their companies have an annual turnover of ₹3,000 Crores or a net worth of ₹2,500 Crores. Business people or companies who will fulfill this criterion will only be eligible to participate in the auction.
If we talk about foreign companies, they can also submit the document and purchase the ITT documents. But, if the Glazer Family is successful in the auction, they will have to set up a company in India to own the team. So, we have not got any news from this business household yet if they plan to enter the auction formally or not.
What We Think
Since there is no confirmation from the Glazer Family yet if they will buy one of the two new franchises of the IPL, we can’t give you any more updates. But, a whiff of sharing the same ownership as Manchester United has made both cricket, and football fans extremely excited. So, if we get any more updates on this event, we will surely let you know.