Sanjiv Goenka’s RPSG Group secure Manchester Originals in England’s Hundred competition – India TV

Sanjiv Goenka, the head of the RPSG Group, has secured the stakes in Hundred franchise Manchester Originals after they submitted the highest bid on Monday, February 3. 

RPSG Group have secured the stake which takes the value of the Manchester Originals franchise to be around £116m. They had earlier failed to acquire the stake for the London Spirit on Friday. 

Lancashire wanted an IPL partner for the Manchester franchise and they have now got one. They are open to selling some of their 51% stake in the franchise if paid well to settle bank debts. The parties will enter into eight weeks of exclusivity and will discuss the deal.

The development was confirmed by Lancashire. “We have been very focused on securing a great partner – ideally from the IPL – and RPSG has been our preferred bidder for some time,” the club said as quoted by ESPNCricinfo.

“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,” it added.

Lancashire wanted to work with an Indian partner and had shortlisted Reliance Industries Limited, the owners of the Mumbai Indians. The club has been active in India. It has sent its men’s and women’s teams for pre-season tours and has signed Indian players – Shreyas Iyer, Washington Sundar and Venkatesh Iyer. 

The RPSG group already owns Lucknow Super Giants in the IPL and Durban Super Giants in the SA20. He had also owned Rising Pune Supergiant during IPL 2016 and 2017 when Chennai Super Kings and Rajasthan Royals were suspended for two years. 

The Lancashire Club will have a members’ forum next week where it will discuss details of its partnership with the RPSG Group. “Key items on the agenda will include details of our partnership with the RPSG Group, the projected financial outcome for Lancashire Cricket and the potential use of the funds generated,” the club added. 

“The investment remains subject to a satisfactory conclusion of the final due diligence and legal processes and a further announcement will be made in due course,” it stated.