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Xtra Time Web Desk: The Glazer family, owners of Manchester United has shown interest in buying an IPL franchise. The Board of Control for Cricket in India (BCCI) has floated Invitaion to Tender (ITT). It is learnt Glazer family have reportedly picked up the ITT floated by the Indian cricket board. The club owners are also tracking the developments in the matter. The closed bids need to be submitted by the last week of October.

The BCCI has already announced that two new IPL teams will be added for the upcoming season. The cash rich league will be a 10 team affair from next season.                                                                                                                                                                                                Only the bidders with an average turnover of Rs 3000 crore or a net worth of Rs 2500 can bid for the new franchises. However, after some potential bidders urged BCCI to lower the value in eligibility criteria, BCCI has reworked on the average turnover clause.

BCCI has also allowed foreign entities to buy the ITT and submit the bid. However, there is a condition that if they win the bid, they will have to set up a company in India.

Some groups that have picked up the ITT from BCCI are Adani Group, Torrent Pharma, Aurobindo Pharma, RP-Sanjiv Goenka Group, Hindustan Times Media, Jindal Steel, and entrepreneur Ronnie Screwvala.