Lancashire has successfully secured an Indian Premier League (IPL) partner to run Manchester Originals as a joint venture.
Sanjiv Goenka’s RPSG Group has submitted the highest bid for a 49% stake in the Hundred franchise, valued at around £116 million.
This partnership is a major coup for Lancashire, with RPSG Group bringing its expertise as the owner of Lucknow Super Giants. Despite being unsuccessful in their bid for a stake in London Spirit, which was acquired by a Silicon Valley tech consortium for £295 million, RPSG Group has now secured a significant stake in the Manchester-based Hundred franchise.
The partnership was foreshadowed in August last year when officials from RPSG Group visited Emirates Old Trafford. At the time, Lancashire chief executive Daniel Gidney expressed his desire to work with an IPL franchise, and it appears that this ambition has now been realized.
Lancashire’s initial shortlist for an IPL partner also included Mumbai Indians owners Reliance Industries, but ultimately, RPSG Group’s bid proved successful.
Recently, Mumbai Indians’ parent company, Reliance Industries Limited (RIL), successfully acquired a 49% stake in Oval Invincibles, emerging victorious in a virtual auction held last week as The Hundred franchise went up for bidding.
The deal, valuing the franchise at £123 million, marks another strategic move by RIL in global cricket and reinforces its growing influence in franchise leagues worldwide.
This partnership is expected to bring significant investment and expertise to Manchester Originals, and could potentially elevate the team’s performance in the Hundred franchise.