RPSG Group, owner of the Indian Premier League side Lucknow Super Giants, acquired a minority stake in The Hundred side Manchester Originals on Monday.
Reports claim that RPSG Group has paid around £58 million ($72 million), valuing the Originals, who play at Lancashire’s Old Trafford stadium, at over £100 million.
“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,” a statement from the English county said.
The company has secured a 49 per cent ownership in the Manchester-based team from Lancashire. They will enter into eight weeks of exclusivity to finalise the deal.
The Sanjiv Goenka-led group also owns Durban Super Giants in South Africa’s SA20 league. The company had previously owned the IPL side Rising Pune Supergiant during the 2016 and 2017 seasons.
Last week, another Indian company, Mukesh Ambani’s Reliance Industries Limited, which owns Mumbai Indians, bought a stake in Oval Invincibles.
(With inputs from AFP)
