Sanjiv Goenka Purchases Stake in Manchester Originals
Sanjiv Goenka, owner of Lucknow Super Giants, acquired a 49% stake in Manchester Originals, making him the second IPL franchise owner to invest in The Hundred.
Sanjiv Goenka, the Chairperson of RPSG Group and owner of the Lucknow Super Giants, has acquired a 49% stake in the Manchester Originals, a franchise in England’s The Hundred competition. This acquisition, made on Monday, makes Goenka the second IPL franchise owner to invest in a team from The Hundred, according to ESPNCricinfo.
Lancashire, which owns a stake in the Manchester Originals, had been seeking an IPL partner for their shares and succeeded in finding one with Goenka’s RPSG Group. In an earlier development, the RPSG Group had participated in an auction for a share in London Spirit on Friday but lost out to a technology firm from Silicon Valley, which valued the team at £295 million.
Goenka’s stake in the Manchester Originals was acquired at a much lower cost, reportedly around £107 million, or £53 million for the 49% ownership share. This move marks a significant expansion for Goenka and RPSG in the international cricket market. The bidding process for Manchester Originals had previously seen interest from Reliance Industries Limited, owners of the Mumbai Indians. However, Reliance withdrew from the bid after securing a share in the Oval Invincibles last week.
ALSO READ | Sanju Samson Ruled Out for 6 Weeks After Finger Fracture in England T20I | Reports
Goenka, who acquired the Lucknow Super Giants for Rs 7,090 crore in 2021, has been an influential figure in global cricket. He expanded his cricket portfolio further by acquiring the Durban franchise in South Africa’s SA20 league and previously owned the Rising Pune Supergiants, which participated in the IPL during the suspension of Chennai Super Kings and Rajasthan Royals in 2016 and 2017.
Last Updated on February 4, 2025