RPSG Group Secures 49% Stake in Manchester Originals, Partners with Lancashire for The Hundred
Sanjiv Goenka’s RPSG Group, which owns the Indian Premier League franchise Lucknow Super Giants, on Monday beat others in the race to partner up with Lancashire in running The Hundred franchise, Manchester Originals.
According to Espncricinfo, RPSG Group made the highest bid to secure a 49 per cent stake in the franchise.
After making an unsuccessful bid for London Spirit on Friday, RPSG Group eventually acquired a stake in the Manchester-based Hundred side reportedly worth around 116 million pounds.
“The two parties will now enter an exclusive period of eight weeks during which they will discuss the specific terms of the agreement. Previously, Lancashire had indicated that they were willing to discuss the sale of a portion of their 51 per cent stake in the Originals if the price was high enough to allow them to bring down a major portion of their bank debt,” said the commentary.
Lancashire issued a statement reporting they had searched for a partner, preferably from the IPL, and that since the deal is now secured, they envisage an ‘exciting future’ for the side.
“We have been very focused on securing a great partner – ideally from the IPL – and RPSG has been our preferred bidder for some time now,” the club said.
“We’re delighted with the outcome and look forward to working together to produce an exciting future. Together, we share a desire to create a very special cricket team for the people of Manchester and the wider North West region.”
The Chairman of RSPG group is the owner of Lucknow super Giants in the IPL which is brought in 2021 for a whopping sum of 7090 crore followed by purchasing Durban Supergiants in SA20 in 2022.
