The Manchester United owners are looking to further expand their commercial interests as they now turn their attention towards cricket.
Avram Glazer is set to own a cricket franchise in the inaugural t20 league set in the UAE.
The International League t20 will be the second most lucrative cricket league behind the Indian Premier League.
He will head Lancer Capital LLC.
The report goes on to state:
“The new tournament will be staged in the UAE and will be played between January 6 and February 12 next year, meaning it clashes with Australia’s Big Bash and South Africa’s new T20 competition.”
“However, the ILT20 is hoping to lure a number of the sport’s biggest stars with bumper pay packets for just over a month’s work. ”
“Among the six teams, three of them are owned by companies who already own IPL franchises, while Manchester United co-chairman Avram Glazer also owns one as the head of Lancer Capital LLC.”
According to espncricinfo, high-profile players would earn as much as $450,000 per season, surpassing the salary cap of England’s very own – The Hundred.
Last year, the Glazers failed in their attempt to buy one of the new IPL franchises.
The RP-Sanjiv Goenka Group won the bid for the Lucknow franchise with an offer of over £686m.
United fans will be fuming at the Glazer’s constant search for new investments while their club suffers.
As per the report released by Swiss Ramble, the owners have not invested a single penny of their own money into the club over the past years.
Moreover, the club is in £530 million in debt, with Old Trafford yet to be refurbished.
#WBA £19m gross debt was one the lowest in the Premier League, far below the likes of #CFC £1.5 bln (Abramovich funding), #THFC £854m (stadium), #MUFC £530m (Glazers’ leveraged buy-out), #EFC £379m and #BHAFC £374m. pic.twitter.com/1kX2HoXE6y
— Swiss Ramble (@SwissRamble) July 11, 2022
It is a matter of time before the fans take things into their own hands. The Glazers must beware and provide the necessary funds to back Erik ten Hag this summer.