RP-Sanjiv Goenka Group (RPSG Group), the owners of the Lucknow Super Giants (LSG), have acquired a 70% stake in the Manchester Originals. The England and Wales Cricket Board (ECB) started the sale of The Hundred franchises last month, and RPSG Group had paid £116 million (Rs 1251 crore) for a minimum of 49% stake in the team.
LSG acquires 70% stake in Manchester Originals
Lancashire County Cricket Club (LCCC) has confirmed that after deliberating, they will keep just 30% (worth £81.2 million/Rs 374 crore) of the Manchester Originals. The ECB’s clause meant that the counties would get a majority share (51%), but they could sell that stake to the new owners after deliberating. LCCC has chosen to sell an extra 21% to pay off its debts and remain afloat.
“The investment provides Manchester Originals with a global sporting partner which shares the Originals’ aspiration to become a major part of the sporting landscape in Manchester – one of the world’s leading sports cities – alongside its two famous football clubs,” LCCC said.
“We respect the legacy of Lancashire Cricket and we welcome Manchester Originals to our RPSG family. We are committed to developing a deep bond with the players, support team, and the whole community at large. We believe in excellence and see a huge potential to deliver good quality cricket for generations to come,” the statement further read.
“We are very excited with this partnership, and we believe this gives us the impetus to chart a new experience for our fanbase. Together with Lancashire Cricket, it is our endeavour to provide an elevated and meaningful experience to everyone who loves cricket,” Shashwat Goenka, vice-chairman of the RPSG Group, said.
Other IPL franchises’ stake in the Hundred teams
The other three Indian Premier League (IPL) teams that have acquired stakes are Mumbai Indians (MI), Sunrisers Hyderabad (SRH), and Delhi Capitals (DC). MI is the only team that has a minority stake (49% in the Oval Invincibles), while the other two have a 100% stake (SRH owns Northern Superchargers and DC owns Southern Brave).
