Sanjiv Goenka, the chairman of RPSG Group and owner of Lucknow Super Giants, has secured a stake in the Manchester Originals franchise in The Hundred. According to reports, Sanjiv Goenka acquired a 49% stake in Manchester Originals after outbidding several competitors, including another IPL franchise.
The England and Wales Cricket Board (ECB) is selling 49% stakes in teams from The Hundred, while the host counties retain a 51% share, which they can choose to keep or sell. The England board will continue overseeing the tournament, and they aim to raise funds by bringing in investors to England cricket.
The Hundred features eight teams: Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Oval Invincibles, Southern Brave, Trent Rockets, and Welsh Fire. Reliance Industries has secured a 49% stake in Oval Invincibles. The group also owns the Mumbai Indians in the IPL and teams in South Africa, the UAE, and the USA.
Sanjiv Goenka’s RPSG Group Acquires 49% Stake in Manchester Originals
Lancashire, which holds stakes in Manchester Originals, was looking for an IPL partner and finalized a deal on Monday. RPSG secured a 49% stake in the team at £53 million. Manchester Originals is valued at £107 million—half of London Spirit’s £195 million after its sale to a US tech consortium.
As per Cricbuzz, Sanjiv Goenka competed in a three-hour auction for a stake in London Spirit on Friday. However, he lost to a Silicon Valley tech company, which valued the team at £295 million. Sanjiv Goenka, who already owns Durban Super Giants in SA20, has added Manchester Originals as his third franchise.
We Have Been Very Focused on Securing a Great Partner – Lancashire
A statement from Lancashire confirmed their focus on finding a strong partner. The statement also shared a vision to build a special cricket team for Manchester and the North West region.
“We have been very focused on securing a great partner – ideally from the IPL – and RPSG has been our preferred bidder for some time,” the Lancashire statement said.
“We are delighted by the outcome and look forward to working together to create an exciting future. Together, we have a shared ambition to create a very special cricket team for the people of Manchester and the wider North West region.”
RPSG Group Becomes Second IPL Owner to Acquire Stake in a Hundred Team
Sanjiv Goenka spent INR 7090 crore (£680m) to acquire the Lucknow IPL franchise in 2021. The following year, he purchased the Durban franchise in SA20. Goenka owned Rising Pune Supergiant, which participated in the 2016 and 2017 seasons when Chennai Super Kings and Rajasthan Royals were suspended.
RPSG Group becomes the second IPL owner, after Reliance, to acquire a stake in a Hundred team. Sun Group, owners of Sunrisers Hyderabad, are reportedly interested in both Northern Superchargers and Trent Rockets. GMR Group, co-owners of Delhi Capitals, are expected to buy a stake in Southern Brave.
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