Manchester United Football Club’s owners have expressed interest in purchasing an IPL franchise. Manchester United is one of the most popular football clubs in the world. It is based in England and the club’s owners and operators, the Glazer family, have expressed interest in purchasing an IPL franchise. The IPL will expand to include two additional teams in 2022 as the BCCI has agreed to add two more franchises to the Indian Premier League starting next year, making it a 10-team championship. The BCCI has begun the process of completing the two new franchises. As a result, a big auction will be held next year in advance of the league.
The owners of Manchester United are said to have accepted the BCCI’s Invitation To Tender (ITT). The club’s owners are also keeping an eye on the situation. The ITT for the new franchise was recently floated by the BCCI and is looking for sealed offers that must be submitted by the end of October.
Bidders should have a turnover of Rs. 3000 crore or a net worth of Rs. 2500 crore on average. Only bidders who meet these requirements will be considered. The average turnover clause has been modified after certain possible bidders requested BCCI to lower the figure in qualifying criteria. The BCCI has now made it possible for international firms to purchase the ITT and submit a bid. There is a caveat, though, that if they win the bid, they must establish a company in India. The deadline to pick up the tender paperwork from BCCI, which were available for Rs. 10 lakh, was October 20.
Adani Group, Torrent Pharma, Aurobindo Pharma, RP-Sanjiv Goenka Group, Hindustan Times Media, Jindal Steel, and entrepreneur Ronnie Screwvala are among the companies who have received the ITT from BCCI. Ahmedabad, Lucknow, Guwahati, Cuttack, Indore, and Dharamsala are the top cities that investors will flock to for the new franchise. Because of the recently constructed Narendra Modi Cricket Stadium, which has a capacity of over 1 lakh spectators, Ahmedabad will be a high focus.