Sanjiv Goenka Acquires Manchester Originals Franchise for £107 Million in The Hundred Tournament

Sanjiv Goenka Acquires Manchester Originals in The Hundred Tournament

Sanjiv Goenka, a prominent figure in the sports management arena and owner of the Lucknow SuperGiants and Durban SuperGiants, has made headlines with his recent acquisition of the Manchester Originals franchise in The Hundred tournament. The deal, valued at approximately £107 million, marks a significant milestone in Goenka’s sports portfolio.

Details of the Acquisition

While the precise purchase value remains undisclosed, estimates suggest that the deal is nearly half the enterprise valuation of the London Spirit, which was recently sold to a consortium of tech billionaires from the US. Goenka had shown interest in acquiring the Lord’s-based franchise but ultimately decided to step back from that deal.

Tech Giants Join The Hundred

In an interesting twist, a consortium that includes tech CEOs such as Microsoft’s Satya Nadella, Google’s Sundar Pichai, and Adobe’s Shantanu Narayen acquired the London Spirit franchise. This consortium represents a convergence of technology and sports, highlighting the growing interest in cricket among major tech leaders.

The Business Model of The Hundred

The Hundred’s business model is noteworthy, as 51% of the franchise ownership remains with the England & Wales Cricket Board (ECB), while the consortium takes a 49% stake. The total bid value for the London Spirit franchise stands at GB£295 million, showcasing the lucrative nature of cricket in the current market.

Looking Ahead

As the landscape of cricket evolves with significant investments from tech moguls and seasoned sports owners like Goenka, fans can anticipate exciting developments in The Hundred tournament. For those looking for the latest deals, promotions, and sports insights, visit looffers.com.