New Delhi, Feb. 26 -- Billionaire David Blitzer is eyeing a majority stake in an Indian Premier League cricket team and is holding talks with two franchises, two sources said, stoking a bidding war against Manchester United co-chairman Avram Glazer and Indian tycoons.

U.S.-based Blitzer, co-founder of Harris Blitzer Sports & Entertainment and an executive at asset manager Blackstone Group, is conducting due diligence on Royal Challengers Bengaluru and Rajasthan Royals, two people with direct knowledge of the discussions said.

The talks value Royal Challengers Bengaluru, last year's IPL champions, at around $1.8 billion, three sources said.

Royal Challengers Bengaluru and Rajasthan Royals declined to comment. Blitzer did not immediately...