Breaking News: Avram Glazer ‘pushes ahead’ with £650m takeover deal as Man Utd co-owner holds meetings

One of the six remaining contenders to invest in the Lord’s-based cricket team London Spirit is Avram Glazer, a co-owner of Manchester United.

According to reports, Avram Glazer, a co-owner of Manchester United, is one of the six people still in the running to invest in the Lord’s-based cricket team London Spirit. In an effort to raise up to £650 million, the English Cricket Board (ECB) is now selling 49% of its ownership in the eight hundred franchise clubs.

Although they have the option to sell their remaining stakes if they so choose, the counties hosting such matches will receive the remaining 51% of those teams. According to rumours from The Telegraph, Glazer’s company, Lancer Capital, is reportedly interested in purchasing London Spirit, the team with the highest valuation.

There is currently no indication that Glazer plans to acquire the entire Spirit team. However, he reportedly met with Surrey to discuss the possibility of purchasing a minority ownership in another team in the championship, Oval Invincibles.

According to reports, Surrey is committed to keeping their 51% ownership of the Invincibles. Glazer is a serious candidate for the Spirit, but he will have fierce competition.

Todd Boehly, a co-owner of Chelsea, is reportedly vying with Glazer for a share of the Hundred’s most valuable asset. Liberty Media, the owner of Formula One and Moto GP, as well as the owners of the IPL teams Mumbai Indians, Chennai Super Kings, and Lucknow Super Giants, are also vying for the shares.

The competition between the six possible investors, including Glazer and Boehly, is intensifying since the project is now firmly in its second phase. Meetings are scheduled to resume this week and the following.

Ruben Amorim was been named the next head coach of Manchester United, Glazer’s second UK sports stake. Amorim, a former Sporting CP manager, will take over as manager after Erik ten Hag was fired.

United’s football operations are currently run by INEOS, which is owned by British businessman Sir Jim Ratcliffe. The Glazer family, who have owned the team since 2005, is still in charge overall, though.

Ratcliffe’s involvement follows his £1.25 billion purchase of a 25% share in the Old Trafford club at the end of 2023, contingent on the transfer of sports control to the petrochemicals company INEOS.