Football’s biggie Manchester United among interested parties to own IPL franchise.
IPL 2022: It’s been quite a while since BCCI proposed to induct two new Indian Premier League (IPL) franchises from the upcoming season of the cash-rich event and the developments are being done on that front as well. Recently, BCCI floated the Invitation To Tender (ITT) document, for which the final deadline has also been extended at the request of various interested entities.
In the recent track of development, Manchester United owners have reportedly shown interest in operating the biggest cricket league franchise and have picked up the Invitation To Tender document rolled out by the BCCI. Manchester United is owned by the Glazer family and the club is one of the biggest clubs in the arena of football in England.
It is noteworthy that only those companies can make a successful bid for owing a new IPL franchise that has a turnover of INR 3000 crore or a net worth of INR 2500 crore. The BCCI has opened doors wide for foreign investors as well, who wants to participate in the auction of the franchises. However, if any foreign business wins the bid, they will have to set up a separate company in India.
The expansion of the Indian Premier League to 10 team affairs will open multiple doors for several parties including the private entities, cricketers, coaching staff and several others involved in the operation of a team.
The Tata’s, Adani’s amongst interested Businesses to own a IPL Franchise:
As per the available reports from several prominent news outlets Aurobindo Pharma, Adani Group, Hindustan Times Media, Torrent Pharma, RP-Sanjiv Goenka Group, Jindal Steel, and entrepreneur Ronnie Screwvala have picked up the Invitation To Tender (ITT) document.
All aforementioned names will be called anytime soon for the auction for the two new IPL franchises. The auction is likely to be held in early November.
Lucknow, Ahmedabad, Kanpur, Pune and Dharamsala are the top cities to be granted an IPL franchise, amongst which Ahmedabad is the front runner due to its gigantic Narendra Modi Stadium.