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Sanjeev Goenka's RPSG Acquires 49% Stake In The Hundred Franchise Manchester Originals

Akshita Patel

Sanjeev Goenka acquires stake in The Hundred franchise [Source: @ManchesterOGs, @ImTanujSingh/X.com]Sanjeev Goenka acquires stake in The Hundred franchise [Source: @ManchesterOGs, @ImTanujSingh/X.com]

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Sanjiv Goenka's RPSG Group, which owns the Lucknow Super Giants of the IPL, has made history in the context of English cricketing history as well, having acquired 49% interest in the Manchester Originals. The franchise is estimated to be valued at around £116 million in this deal, which is a big step towards Lancashire Cricket fulfilling their ambition to partner with an IPL franchise.

RPSG Group has won an auction in the wake of a close call after a tight tussle with a stake for London Spirit which went to Silicon Valley's tech consortium.

The deal makes RPSG the second IPL franchise to invest in The Hundred, following Reliance Industries Limited, who only recently sealed a stake in Oval Invincibles.

Previously, Delhi Capitals co-owner, GMR Group also bought significant stakes in Hampshire Club, which regulates the Southern Brave team.

The deal will enter an eight-week exclusivity period for the final negotiations. Lancashire would then consider further selling some of their 51% stake to alleviate bank debts.

"We have been very focused on securing a great partner - ideally from the IPL - and RPSG has been our preferred bidder for some time. We are delighted by the outcome and look forward to working together to create an exciting future. Together, we have a shared ambition to create a very special cricket team for the people of Manchester and the wider North West region," Lancashire said through a statement.

With this deal, RPSG Group Chairman Sanjiv Goenka has expanded its footing further. After ownership of the Durban franchise in SA20 and the former Rising Pune Supergiant, he expected to bring strategic expertise and financial strength to Manchester Originals. 

Google CEO Sundar Pichai Also Joins Bidding Process For The Hundred

Sundar Pichai, CEO of Alphabet Inc. (Google's parent company), is reportedly spearheading a Silicon Valley consortium to invest in a London-based franchise in The Hundred. The group, which includes tech heavyweights like Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Egon Durban of Silver Lake Management, managed to acquire London Spirit on Friday.