Sanjiv Goenka, owner of Lucknow Super Giants (LSG) and chairman of RPSG Group, has acquired the Manchester Originals franchise in The Hundred. Reports confirm that Goenka outbid several competitors, including an IPL team, to secure the deal.
Manchester Originals, led by Phil Salt, competes in The Hundred, a premier tournament organized by the England and Wales Cricket Board (ECB).
The acquisition is valued at approximately GBP 107 million. This amount is half the enterprise valuation of London Spirit, which was sold earlier to a US-based tech consortium for GBP 195 million.
Goenka initially pursued a London-based franchise but withdrew from the bidding process. The final valuation of Manchester Originals was determined through an e-auction. However, the identities of other bidders remain undisclosed.
This marks Goenka’s third franchise in global T20 leagues. He already owns Durban Super Giants in SA20 and Lucknow Super Giants in the IPL.
In a related development, Reliance Industries Limited (RIL), owned by the Ambani family, acquired a 49% stake in Oval Invincibles. RIL, which owns Mumbai Indians in the IPL, also has teams in South Africa, the UAE, and the USA.
The Oval Invincibles deal is valued at around GBP 60 million, based on the franchise’s full valuation of GBP 120 million. RIL outbid a consortium of Silicon Valley tech giants, including CEOs from Google, Microsoft, and Adobe, as well as private equity firm CVC.
Oval Invincibles, the two-time defending champions in The Hundred, became the first team sold in the ECB’s final round of franchise sales. This acquisition adds to RIL’s growing portfolio, which includes Mumbai Indians, MI Emirates, MI Cape Town, and MI New York.
Goenka’s acquisition of Manchester Originals highlights his expanding influence in global cricket. It also underscores the growing interest of Indian business leaders in international cricket franchises.
for more updates follow ANN MEDIA on facebook , X , Instagram and Linkedin
