IPL Upcoming Teams Tender: CVC Partners, Manchester United Owners, Jindal Steel Gets into the Race

Wednesday was the deadline to select Tenders for the new IPL teams and many interesting names have joined the list to buy the new teams. Reportedly, former Formula 1 owner CVC Partners, Jindal Steel, and Manchester United owners (Glazer Family) have dug in to get the teams at the auction which is set for October 25th.

Who are in the Race to Buy the New IPL Teams?

CVC made approximately $3 billion investment in La Liga and the Spanish League bought 10.95%. Their other memberships include Volleyball World, Six Nations Rugby, and Premiership Rugby. The popular Glazer Family, better famous as the owners of Manchester United, is also there on the list.

The last official communique of BCCI states, the auctioning for new IPL teams will take place on 25th October in Dubai. The authority could delay the process for 2 or 3 days. However, any final word on the same is yet to be out.

Previously, the deadline to pick tender documents was on 5th October, which was extended first till the 10th of the month and then till 20th. Some high profile names who bought the tender documents priced 10 lacs include:

  • Glazer Family- Manch’s United Owners
  • CVC Partners
  • Naveen Jindal: Jindal Power and Steels
  • Sanjeev Goenka: Promoters of RPSG
  • Adani Group Promoters
  • Torrent Pharma
  • Aurobindo Pharma
  • Ronnie Screwvala
  • Kotak Group
  • Singapore Based PE Firm
  • Group M
  • Hindustan Times Media

Broadcast and Sports Consulting Agencies ITW

What’s Next?

Now, as per the Tender guidelines, the interested parties would be submitting the required materials like the eligibility documents and financial bid. Sources suggest, not all these names but a few will be participating in the auction. Despite the base price of INR 2,000 crore the interest showered has been truly commendable.

Read More: IPL 2021: MS Dhoni indicated that he will play further!

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