RPSG Group picks up majority stake in The Hundred team Manchester Originals
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Sanjiv Goenka-led RPSG Group has won the bid to acquire a majority stake in The Hundred’s Manchester Originals, valuing the franchise at £107 million, according to reports. This makes it the second Indian conglomerate, after Mukesh Ambani’s Reliance Industries Ltd, to invest in a The Hundred franchise.
The Hundred is a short-form professional cricket league in the UK, organised by the England and Wales Cricket Board (ECB), where each team faces 100 balls. The ECB is selling a 49% stake in each The Hundred franchise, while the host county can retain or sell all or a part of their 51% share. The bidding process, which began on January 30 with two teams auctioned daily, is nearing completion.
The tournament features eight city-based women’s and men’s teams that compete over five weeks every summer. This year’s league commences on August 5. Manchester Originals are scheduled to play their first match this year on August 6, against Southern Brave. This will be a Double Header fixture, where the women’s and men’s teams would play back-to-back matches against the same opponent.
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Manchester Originals is based at Old Trafford and represents Lancashire. The men’s team is reportedly led by Jos Buttler and includes Phil Salt and Jamie Overton.
Reports also suggest that the RPSG Group is set to acquire a 70% stake in Manchester Originals, making it the first group to hold a controlling stake in a The Hundred franchise. The deal makes it the second-most expensive franchise after London Spirit. RPSG outbid a US-based private equity firm to secure the stake, with the initial 49% reportedly acquired at £53 million.
The latest bid makes RPSG the second IPL owner, after Reliance, to invest in a The Hundred franchise. Reliance recently acquired a 49% stake in Oval Invincibles for £60.27 million, valuing the team at £123 million.
This is the third cricket franchise of the group. Currently, the RPSG Group owns Durban’s Super Giants in SA20 and IPL’s Lucknow Super Giants.
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