- English Premier League club Manchester United has shown interest in buying a new franchise in the IPL.
- Two new teams will be included in IPL from next season, for which tender process is going on.
- Ahmedabad may get the team, Adani bought the tender for the new team
The American owners of top English Premier League clubs have reportedly sought an invitation to tender (ITT) from the BCCI through a private equity firm. The owners of Manchester United are taking a personal interest in the world’s most valuable T20 league.
ITTs were issued by the BCCI for the new team which will have to be issued by the last week of October. Some strict rules have been made for this. One of the rules is that potential bidders can bid only if the average turnover is Rs 3,000 crore or the personal net worth is Rs 2,500 crore.
Foreign companies can also buy ITT and submit their bids. However, it stipulates that if the foreign company wins the bid, it must set up a company in India. According to a report in our correspondent Times of India, foreign investors can submit bids if they are comfortable with the rules. We don’t know whether Manchester United owners will come to the bidding table. We have learned so much that he has shown interest in the team.
Other bidders who bought ITT include Adani Group, Torrent Pharma, Aurobindo Pharma, RP-Sanjeev Goenka Group, Hindustan Times Media, Jindal Steel, entrepreneur Ronnie Screwvala and three other private companies. The BCCI said that the last date for buying tenders worth Rs 10 lakh is October 20.
According to the report, many people are buying tenders for their personal studies and are trying to understand the industry broadly by gathering information. For example, buying a tender document gives you an idea of BCCI’s upcoming plans, what is going to happen next in the league, etc. For example, if Disney purchases a tender document to purchase a franchise, it does not necessarily mean that Disney is interested in purchasing a franchise. He will study this document as it considers the rights of the media.
Ahmedabad, Lucknow, Guwahati, Cuttack, Indore and Dharamsala are at the forefront of investors’ minds. Sources said that Ahmedabad is definitely the top priority as it has a stadium with a capacity of 1.10 lakh spectators. It is true that Ahmedabad has its own franchise. Since 2010, Ahmedabad has shown interest in buying franchises.