Lancer Capital, the American owner of Manchester United football club, has taken its first step in cricket by acquiring a franchise in the upcoming UAE T20 League.
According to the Kirk Info website, the news comes a week after Reliance Industries, the owner of Mumbai Indians in the IPL, announced its investment in the UAEET League through franchise ownership.
"I am very excited to be a part of the UAEET20," said Avram Glaser, chairman of Lancer Capital. The UAEET20 will be a world-class event that will promote cricket in the UAE.
Evie Glaser, chairman of Lancer Capital, is also the owner of Tampa Bay Buccaneers and co-chairman of Manchester United.
"I am thrilled to welcome Mr. Glazer into the UAEET20 family," said Khalid Al-Zaruni, chairman of the UAEET20 League.
"Having a partner who has invested in sports with a long-term investment vision is a sign of the strength of the UAEET20 League's business model and the UAE's global selection for sports. '
Last month, Lancer Capital was among the final shortlisted bidders for two new IPL franchises, but the bid went to RPSG Group and CVC Capital. These groups acquired the Lucknow and Ahmedabad franchises, respectively.
Of the nine bids for the IPL, Lancer Capital had the lowest bid of 55 551 million for the Ahmedabad franchise and 53 537 million for the Lucknow franchise.
The six-team UAEET20 League has been approved by the Emirates Cricket Board. The inaugural edition is expected to be played in February or March 2022.
