The Manchester United football club co-owners, the Glazer family, has set sports news realm afire with a reported audacious bid for IPL franchise Challengers Bengaluru (RCB), according to a detailed report by The State of Play website last week.

The report said that the Glazer family’s investment vehicle has emerged as one of the leading bidders to acquire  RCB, with a non-binding offer of approximately USD 1.8 billion in the ongoing sale process for the Indian Premier League (IPL) and Women’s Premier League (WPL) champions. (https://www.stateofplay.club/royal-challengers-bengaluru-bid/)

The State of Play report said nine parties have submitted non-binding bids for the franchise, ranging from about USD 1 billion to USD 1.8 billion, as the current owners work towards a shortlist before inviting binding offers.

The Glazer family’s bid — made through New Orleans-based Lancer Capital — sits at the higher end of that range and positions them among the top contenders for the prized cricket asset.

According to an IANS report on February 7, Lalit Modi, the former chief of the Indian Premier League, confirmed to the news agency a bid from the Glazer family.

“I assume this is based on the current scenario of 74 games and not 94 games, which I believe will become the norm, as the IPL was originally conceived as a full home-and-away format. Secondly, this will solidify the Board of Control for Cricket in India’s own revenue, especially at a time when the board’s central revenues are under tremendous pressure — firstly due to its share of International Cricket Council revenue, which could realistically decline by 50–60 per cent, and secondly because bilateral rights revenue may also fall by at least 50 per cent,” Modi was quoted by IANS as saying.

“But the IPL will make up for all those downsides. The next IPL media rights cycle, which will be decided within the next year, is very likely to see the value at least double. I have zero doubts about that,” Modi added while talking to IANS.

Besides the Glazers, The State of Play identified several other likely bidders in the race for RCB ownership,  including Adar Poonawalla, backed by U.S. private equity firm TPG (publicly known); Dr Ranjan Pai, reportedly in talks with KKR and possibly Temasek; Premji Invest, the investment arm of Wipro founder Azim Premji and EQT, a Stockholm-based private equity group expanding its sports portfolio.

The State of Play is a weekly, subscription-only newsletter that provides in-depth, original insight into the business of sport  with sharp reporting, analysis, and a distinct editorial voice grounded in India, its website says.

Current RCB owners Diageo’s United Spirits Ltd initiated the sale last year after the team’s on-field success, which included back-to-back titles in the IPL and WPL. The valuation landscape for the franchise has surged accordingly, underscoring the commercial appeal of cricket properties in India’s booming sports market.