Manchester United co-owner Avram Glazer is reportedly among the six remaining candidates vying to invest in Lord’s-based cricket franchise London Spirit. The English Cricket Board (ECB) is currently in the process of selling 49% stakes in the eight Hundred franchise teams, potentially generating up to £650m.
The remaining 51% of those teams will be given to the counties hosting their matches, although they can opt to sell their remaining stakes if they wish to. Lancer Capital, chaired by Glazer, is believed to be interested in buying the highest-valued team, London Spirit, according to reports from The Telegraph.
It remains uncertain at this moment in time whether Glazer intends to purchase the entire Spirit team. But he has reportedly held meetings with Surrey about possibly buying a minority stake in Oval Invincibles, another team in the competition.
Surrey are said to be determined to retain their 51% stake in the Invincibles. But while Glazer is a strong contender for the Spirit, he faces stiff competition.
Chelsea co-owner Todd Boehly is believed to be challenging Glazer for a stake in the Hundred’s most valuable asset. In addition, the owners of IPL franchises Mumbai Indians, Chennai Super Kings and Lucknow Super Giants, as well as Formula One and Moto GP owners Liberty Media, are also in the running for the shares.
Now firmly in its second phase, the battle is heating up between the six potential investors, including Glazer and Boehly. They are set to continue their meetings this week and into the next.
Meanwhile, Glazer’s other UK sports investment – Manchester United – recently announced Ruben Amorim as their new head coach. Former Sporting CP manager Amorim will step in as the successor to recently-sacked boss Erik ten Hag.
INEOS, owned by British billionaire Sir Jim Ratcliffe, now heads United’s football operations. However, the Glazer family, who have owned the club since 2005, remain in overall charge.
Ratcliffe’s involvement comes after he bought a 25% stake in the Old Trafford club for £1.25billion at the back end of 2023, on the condition that petrochemicals company INEOS would be handed sporting control.
Content Source: www.express.co.uk