Lucknow Super Giants (LSG) has bought 70% stake in The Hundred franchise Manchester Originals. LSG is an IPL franchise owned by RPSG Chairman Sanjiv Goenka.
The contracts were signed today morning and the deal was done earlier this week. As per The Observer, LSG asked for the signing to be done on July 24 as it’s Haryali Amavasya, a two day festival. LSG’s owner wanted the ownership of Manchester Originals to start with the festival.
LSG also owns Durban Super Giants in SA20 and will change the name of their Hundred franchise to Manchester Super Giants next year.
RPSG made the highest bid to buy Originals in February. Reports say the group values the team over £100m.
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RPSG Vice-President Shashwat Goenka said they want to challenge Manchester United and Manchester City’s popularity. We want the Manchester franchise in the Hundred to be the third biggest sports team in Manchester and challenge those two sports teams in Manchester.
Lancashire said they wanted an IPL partner, with RPSG as their preferred bidder. 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 club 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 also owns Mohun Bagan Super Giant, a football club from Kolkata.
