MI, KKR likely to become franchise owners in UAE based T20 league

The owners of Mumbai Indians (MI) and Kolkata Knight Riders (KKR) are all set to venture into the new T20 league based in the UAE. The proposed six-team tournament sanctioned by Emirates Cricket Board (ECB) will see six teams competing for the title. The first edition of the tournament will be played in February-March in 2022.

The third likely owners of UAE based T20 league is the English Club Manchester United's Glazer family. The Premier League T20 tournament was announced in August but the teams, owners, stakeholders, and other financial details were not discussed. However, the discussions have moved on to the advanced stage now. As of now, Mumbai Indians are almost finalized to become one of the owners. "We just need a formal handshake to make it final now," An official told ESPNcricinfo.

Other companies in the fray are Capri Global, owner of Big Bash League’s Sydney Sixers and Kiran Kumar Gandhi,  co-owner for Delhi Capitals. The official further revealed that the contracts have been exchanged with the interested parties and financial terms have been finalized.

"With all six, contracts have been exchanged, and advanced discussions in place," the official said. "Financial terms have been finalised. The details are being gone through in most instances, with lawyers, advisors and so on."

The new T20 tournament will see 34 matches being played between six  teams in a round-robin format. There is no announcement made about the auction yet.