The owners of Indian Premier League side Lucknow Super Giants won the right to buy a 49 per cent stake in Manchester Originals on Monday in the latest auction of The Hundred franchises.
Reports claim the RPSG Group have paid around £58 million ($72 million), valuing the Originals, who play at Lancashire's Old Trafford stadium, at over £100 million.
The Hundred team Manchester Originals 49% stake sold to RPSG Group.
— Himanshu Pareek (@Sports_Himanshu) February 3, 2025
The same group owns Lucknow Super Giants in IPL. pic.twitter.com/bQheFKJjsM
RPSG had been interested in securing a stake in London Spirit, but they were beaten by a deal that saw a Silicon Valley consortium offer around £145 million for the 49 per cent share in the Lord's-based team.
"Lancashire Cricket confirms that the RPSG Group, owners of Lucknow Super Giants, were the successful bidders during today's auction process for the sale of a stake in Manchester Originals," a statement from the English county said.
Sanjiv Goenka, the Kolkata-based owner of Lucknow SuperGiants and Durban SuperGiants, and the head of RPSG Group, has landed the Manchester Originals franchise in The Hundred tournament.
— Cricbuzz (@cricbuzz) February 3, 2025
Details: https://t.co/WC5SJ8c8NZ#TheHundred pic.twitter.com/Kk3YUKilZN
Assuming the deals go ahead during an eight-week exclusivity period, the Originals will become the second Hundred team to have IPL affiliation.
London-based Oval Invincibles saw their minority stake secured by Mumbai Indians owners the Ambanis, with the 49 per cent stake worth a reported £60 million.
All eight of the Hundred's franchises, each of which has a men's and women's team, are set to be matched with preferred investors.
English cricket chiefs are aiming to bring in private money in order to attract the world's top players in a competitive global market.
The Hundred has proved controversial, with many English county fans angry at the way the tournament deprives their clubs of key players at the height of the season.
But the ECB says funds raised from the sale of stakes in the franchises will support the 18 traditional counties.
Warwickshire agreed a 49 per cent sale of Birmingham Phoenix to Knighthead Capital for around £40 million.
Glamorgan sold the same stake in Welsh Fire to IT entrepreneur Sanjay Govil in another £40 million deal.