Manchester United's owners have been unsuccessful in their attempts to purchase a new team in cricket's Indian Premier League.

The Glazers were reportedly among 18 interested parties to have collected tender documents for the purchase of one of the two new cricket franchises, ahead of the IPL's expansion from eight to ten members.

However, the BCCI have now confirmed the two winning bidders - with the Glazers missing out.

The victorious parties are Indian industrial conglomerate RPSG, led by businessman Sanjiv Goenka, and private equity firm CVC Capital who already have a stake in rugby's Six Nations, Premiership rugby and Spanish football's La Liga.

RPSG's bid for the team in Lucknow was worth approximately £690million while CVC's purchase of the Ahmedabad franchise is worth around £516m. It is not known how much the Glazers were outbid.

It means that the Glazers' sporting ventures will remain in NFL franchise the Tampa Bay Buccaneers and United, having missed the chance to grow their portfolio.

As a result, it may also mean a lost opportunity for the Glazers to increase United's brand in India - which could have resulted in more commercial opportunities.

That's not to say the new IPL franchises are a guaranteed success, however, as five teams have collapsed since the league's inception in 2008.

Gujarat Lions and Rising Pune Supergiant both dissolved in 2017, the latter of which was the second unsuccessful franchise based in India's Pune district.

Lucknow's population of 3.5 million and Ahmedabad population of over 5.5 million do mean that both franchises should have significant local support.

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