Devon Conway outlines New Zealand's 'massive goal' of wining Tests in India
3 Oct 2021
The Glazer family of six siblings — Avram, Joel, Kevin, Bryan, Darcie and Edward, that owns the famous football club Manchester United has shown their interest in owning one of the franchises in the Indian Premier League, TOI reported.
The US-based family who has a rich history of owning sports franchises has picked up the invitation to tender issued by the BCCI and they are tracking the developments in the process of induction of two extra teams in the IPL very closely, the report added.
As per the ITT released by the BCCI, foreign entities can own an IPL franchise if they agree to the terms and conditions that include setting up a company in the country.
The BCCI has mandated all potential bidders must have an annual turnover of Rs 3,000 crore or have a net worth of Rs 2,500 at the personal level. However, the board relaxed its norms a bit and lowered the amount to accommodate more and more bidders. The board has asked all potential bidders to submit their ITT by the end of this month.
Apart from the Glaze family, other enterprises to have picked up the ITT are Adani Group, Torrent Pharma, Aurobinda Pharma, RP-Sanjiv Goenka Group, Hindustan Times media and Jindal Steel along with entrepreneurs such as Ronnie Screwvala.