IPL 2021

Subterms

    Latest story

    263 Shares169 Views

    Man Utd owners The Glazers OUTBID in attempt to buy IPL franchise after their offers fell well short of winning £685m

    by

    THE Glazer family have been outbid in their attempt to buy an Indian Premier League franchise.Although the value of their bid was not revealed, it is understood they were a long way short of the winning offers of £685million and £542million.
    Avram Glazer (left) and Joel had hoped to buy an IPL teamCredit: PA
    The Glazers hoped a stake in cricket’s most lucrative competition would work alongside the growing popularity of football – and particularly Manchester United – in India.
    But even they must have been gobsmacked at the price of the new franchises as the IPL increases from eight to ten teams next year.
    The auction was held at the Taj Hotel in Dubai but there was no sign of the Glazers in person. They sent their representatives.
    The RPSG Group, an Indian industrial and services conglomerate, paid the most and are expected to choose a team based in Lucknow. 
    CVC Capital, who already have interests in Six Nations rugby union and Formula One, will opt for a team with a home in Ahmedabad.
    When the IPL started in 2008, the Mumbai Indians, the most expensive team, cost India’s richest man Mukesh Ambani £80million. 

    FREE BETS: GET OVER £2,000 IN NEW CUSTOMER DEALS
    Organisations and investors could bid only if they have an annual turnover in excess of £280million or a personal wealth of £240million.
    And the net worth of the Glazers is reported to be around £3.4billion as of 2016 , according to Forbes.
    The auction for the two new teams began at £195million, with the IPL set to boast ten teams next year for just the second time since its inception.
    Moeen Ali won the 2021 IPL with Chennai Super KingsCredit: Sportzpics – BCCI More

    More stories

    • 225 Shares99 Views

      in Soccer

      Man Utd owners could buy IPL team with Glazers ‘confirming interest in one of league’s two new franchises’

      by

      MANCHESTER UNITED could be poised to enter the world of cricket by buying a team in the Indian Premier League.The Glazer family, who own United, are reported to have purchased an Invitation to Tender for the right to own one of the two new franchises in cricket’s biggest money-spinning tournament.
      Reports in India suggest the Man United-owning Glazers could be set to enter the IPL cricket worldCredit: PA
      The net worth of the family, who hail from New York, is reported to be around £3.4billion ($4.7bn) as of 2016 according to Forbes.
      The IPL is due to be increased from eight franchises to ten in 2022. The sale of the two new teams will be completed at an auction in Dubai on October 25.
      The base price at the auction for each team is an eye-watering £195million.
      Organisations and investors can bid only if they have an annual turnover in excess of £280million or personal wealth of £240million.
      An Invitation to Tender is effectively a document that displays an interest in buying a team
      The venture capital company CVC, whom have extensive interests in Six Nations rugby union and Formula One, are one of around 20 other businesses that have paid £10,000 for an ITT.

      JOIN SUN VEGAS: GET A FREE £10 BONUS WITH 100s OF GAMES TO PLAY AND NO DEPOSIT REQUIRED (Ts&Cs apply)
      Buying an ITT does not mean a business will definitely make a bid for one of the franchises – but they can’t do it without one.
      A source told the Times of India newspaper: “Overseas investors are eligible to submit a bid if they meet the conditions. We don’t really know whether the Manchester United owners will come to the bidding table. 
      “What we certainly know is that they’ve shown interest. The IPL is a global entity now.
      “People usually pick up these tender documents to study and gather information.”
      The Glazers’ reported interest in the IPL is likely to prompt curiosity and concern from Man United supporters.
      The Red Devils owners made a formal club takeover bid in May 2005 before securing 98 per cent of shares and control of United in June that year.
      The total value of the Glazers’ takeover is reported to be around £790m.
      The club owners provoked fury amongst many Red Devils’ fans with their attempts to have United join the much-derided and now kiboshed European Super League.
      Protests amongst supporters even led to players being kept inside the Lowry Hotel as fans blocked their exit.
      However, it is thought Cristiano Ronaldo’s comeback combined with summer swoops for Jadon Sancho and Raphael Varane has momentarily quelled supporter unrest.
      Reports claim the Glazers could invest in India’s top tier cricket league if they meet the criteria for overseas investorsCredit: BBCI
      FREE BETS: GET OVER £2,000 IN NEW CUSTOMER DEALS

      Angry Solskjaer snaps at BT Sport reporter when asked whether Man Utd stars are playing for him after win over Atalanta More