Adani Group will purchase a team in the UAE T20 League following its unsuccessful bid for a new team in the IPL 2022. The UAE T20 League was supposed to start in January-February, but the organizers had to postpone their plans due to the COVID-19 third wave.
Back in October of last year, the Adani Group was one of the business houses that unsuccessfully bid for the purchase of an IPL 2022 team. According to the report, all of the team owners in that foreign league are well-known figures.
While the Adani Group was unable to make an impact in the IPL. They will now turn their attention to a franchise cricket league. The UAE T20 League, which the Emirates Cricket Board (ECB) has been planning to launch for quite some time.
Negotiations between the ECB and the Adani group are nearing completion.
According to Cricbuzz, negotiations between the ECB and the Adani Group are nearing completion. Officials from the Gautam Adani-promoted venture have confirmed an agreement between both parties. Which is expected to be signed next week. Simultaneously, it has been reported that the league has signed a 10-year contract. With ZEE Group as their official broadcaster for a fee of USD 120 million.
While the UAE T20 League has yet to officially begin, it already boasts some elite personalities as team owners. To name a few, they include Mukesh Ambani, the CMD of Reliance Industries Ltd. (RIL), Bollywood megastar and Kolkata Knight Riders co-owner Shah Rukh Khan. Kiran Kumar Granthi of GMR, and the Glazer family, who own one of the oldest and most successful English Premier League clubs, Manchester United.