New Delhi: Sanjiv Goenka, the Chairperson of RPSG Group and owner of the Lucknow Super Giants, acquired a significant 49% stake in the Manchester Originals on Monday. This move makes him the second IPL franchise owner to invest in a team from The Hundred, as reported by ESPNCricinfo. Lancashire, which already holds stakes in the Manchester Originals, was actively seeking an IPL partner to purchase shares, successfully achieving that partnership on Monday.
The RPSG Group participated in a three-hour auction for a share in London Spirit on Friday but ultimately lost to a technology company from Silicon Valley, which valued the team at an impressive £295 million.
RPSG has acquired a stake in the Manchester-based Hundred team at a significantly reduced cost, potentially amounting to £107 million or £53 million for a 49% ownership share.
Lancashire’s preliminary list of bidders featured Reliance Industries Limited, the owners of the Mumbai Indians. However, they withdrew from the bidding for Manchester after securing a share in the Oval Invincibles last week.
Lancashire, the club that represents Manchester, has recently increased its presence in India through a strategy that involves organizing pre-season tours for both men’s and women’s teams, as well as signing players Shreyas Iyer, Washington Sundar, and Venkatesh Iyer to participate in County matches or the One-Day Cup.
Goenka, the chairman and founder of the RPSG Group, acquired the Lucknow Super Giants for Rs 7090 crore in 2021. The following year, he bought the Durban franchise in the SA20 league and has also owned the Rising Pune Supergiants.
The franchise participated in the IPL seasons of 2016 and 2017 during the suspension of the Chennai Super Kings and the Rajasthan Royals.
The agreement positions the group as the second IPL franchise to acquire an interest in a Hundred team, following Reliance. As reported by ESPNCricinfo, the Sun Group, which owns the Sunrisers Hyderabad, is looking to invest in both the Northern Superchargers and the Trent Rockets. Meanwhile, GMR Group, co-owners of the Delhi Capitals, is anticipated to secure a stake in the Southern Brave after fully purchasing Hampshire, the host county, in 2024.
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