RP-Sanjiv Goenka Group Acquires 70% Stake in Manchester Originals
The RP-Sanjiv Goenka Group (RPSG), under the leadership of Sanjiv Goenka, has successfully acquired a 70 percent stake in the Manchester Originals cricket franchise for approximately 75 million pounds. This landmark acquisition values the franchise at around 107 million pounds and marks a significant milestone as it is the first time a majority stake has been purchased in a Hundred franchise.
About the Manchester Originals
Based at the historic Old Trafford Ground in Manchester, the Manchester Originals is one of the eight teams competing in The Hundred, a 100-ball cricket tournament promoted by the England and Wales Cricket Board (ECB). The team proudly represents the Lancashire county club and features notable players like England’s white-ball captain Jos Buttler, Phil Salt, and Jamie Overton. The women’s team boasts stars such as Sophie Ecclestone, Beth Mooney, and Laura Wolvaardt.
RPSG’s Growing Cricket Portfolio
The acquisition of Manchester Originals adds to RPSG’s cricket portfolio, which already includes the Indian Premier League franchise Lucknow Super Giants and the SA20 franchise Durban’s Super Giants. This latest investment showcases the group’s commitment to expanding its presence in the cricketing world.
The Hundred Franchise Sales Updates
The sale of stakes in The Hundred franchises is nearing completion, with binding bids having opened on January 30. The ECB is offloading a 49 percent stake in each team, while counties have the option to sell part or all of their 51 percent share. The RPSG’s acquisition of Manchester Originals for a 70 percent stake represents the highest percentage share purchased in a team thus far.
Explore More with Looffers.com
For more exciting updates and exclusive offers, visit Looffers.com, your go-to platform for the best deals and promotions across a variety of products and services!
