CVC Partners, Jindal Steel and the Glazer family aspires to own an IPL franchise alongside others

The deadline for picking the tenders for new Indian Premier League (IPL) teams ended Wednesday and some high-profile companies have added their names to own the new IPL teams. Jindal Steel, former Formula 1 owner CVC Partners, Manchester United Owners Glazer family are going to compete for buying the teams in auctions scheduled for October 25th as per available information.

CVC Partners is an American private equity house. It has stakes in one of the richest sports in the world, Formula One. Recently, the global private equity firm has spent USD 509 million and bought a 14.3% stake in the Six Nations Rugby tournament in Europe. CVC had also made efforts to invest in New Zealand rugby. Besides that, the company also invested almost $3 Billion in La Liga and bought 10.95% in the famous Spanish league. It is now trying to buy an IPL team.

The owners of the world’s most famous football club Manchester United, the Glazer family have also snapped up the tender documents.

A former member of Lok Sabha and the current chairman of the Jindal Steel & Power, Naveen Jindal is another aspirant to join the IPL teams bidding race. It is believed to keep an eye for ownership of the franchise in Cuttack, Orissa. His group has set up industries there.
Auctions will be conducted on 25th October in Dubai as per the last official communique from BCCI. A report from InsideSport.in stated on Wednesday that the final word on the same is yet to be out and the BCCI may delay the process for 2-3 days.

Almost 17-18 aspirants have bought the tender documents worth Rs.10 Lacs. It is understood that not all those who have bought the tenders will be seen at auctions in Dubai. Some big names in the list features-

•         Sanjeev Goenka – Promoters of RPSG
•         Glazer Family – Manchester United Owners
•         Adani Group promoters
•         Naveen Jindal – Jindal Power & Steel
•         Torrent Pharma
•         Ronnie Screwvala
•         Aurobindo Pharma
•         Kotak Group
•         CVC Partners
•         Singapore Based PE Firm
•         Hindustan Times Media
•         Broadcast & sports consulting agencies ITW,
•         Group M

Notably, the initial deadline to pick the tender was 5th October. It was then extended up to 10th October and stretched up to 20th October finally.

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