THE RPSG Group, owners of Indian Premier League (IPL) team Lucknow Super Giants, have secured a 49 per cent stake in Manchester Originals following the latest auction of The Hundred franchises on Monday.
Reports suggest the deal is valued at around £58 million, placing the overall valuation of Manchester Originals, who play at Old Trafford, at over £100m.
RPSG had initially sought a stake in London Spirit but lost out to a Silicon Valley consortium, which is reported to have paid around £145m for a 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," the county said in a statement.
If finalised within the eight-week exclusivity period, the deal would make Manchester Originals the second team in The Hundred to have an IPL-affiliated investor.
Earlier, Mumbai Indians owners, the Ambani family, acquired a 49 per cent stake in Oval Invincibles for a reported £60m.
All eight franchises in The Hundred, which include both men’s and women’s teams, are expected to be linked with preferred investors as part of a wider push to attract private investment into English cricket.
The England and Wales Cricket Board (ECB) has positioned this move as a strategy to secure top players in an increasingly competitive global market.
The Hundred has faced criticism from English county fans, who argue the tournament affects county cricket by taking key players away during the season. However, the ECB has said proceeds from franchise stake sales will help support the 18 first-class counties.
Other recent franchise deals include Warwickshire selling a 49 per cent stake in Birmingham Phoenix to Knighthead Capital for around £40m and Glamorgan securing a similar £40m deal with IT entrepreneur Sanjay Govil for Welsh Fire.
(With inputs from AFP)
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