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Manchester Evening News
Manchester Evening News
Sport
Stephen Killen

Manchester United owners 'consider £190m IPL franchise investment'

The Glazer family are reportedly interested in buying one of the two new franchise teams joining the Indian Premier League (IPL).

It comes after the BCCI, Indian cricket's governing body, issued an Invitation to Tender (ITT) document which allows for potential suitors to register their interest.

According to the Times of India, the Glazers are said to be interested in ownership of a new franchise coming to the format, adding to a portfolio that also includes NFL side Tampa Bay Buccaneers, spearheaded by Tom Brady, and United.

Next year the IPL, cricket's premier T20 format, will change its format to feature 10 teams, up from the current crop of eight. The cities shortlisted to host the two teams are Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala.

The current base price to own a T20 team in the tournament is set at 2000 crore (£190m), but first a fee of around £10,000 is required ahead of a bid for a franchise, should the eligibility criteria be met.

In the ITT, it states that foreign investors will be able to own and operate one of the new IPL franchises, provided they set up a company based in India.

The report states "overseas investors are eligible to submit a bid if they meet these conditions," adding: "We don’t really know whether Manchester United's owners will come to the bidding table. What we certainly know is that they've shown interest."

CVC, previously the majority shareholder of F1 until 2017, is also said to be interested. The private equity firm owns a 14.3 per cent stake in the Six Nations.

The IPL is a fiercely anticipated event played across 60 matches, between April and October, in a round-robin format.

Mumbai Indians, the most successful franchise in the competition, are said to be worth up to $101m (£73m).

Sky Sports signed a three-year deal to broadcast the tournament in 2020, with the Chennai Super Kings winning the first year it was shown.

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