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Lancashire County Cricket Club (LCCC) recently confirmed that Lucknow Super Giants owner, Sanjiv Goenka’s RPSG Group has acquired 70 per cent stake in The Hundred’s Manchester Originals after entering the auction, held by England and Wales Cricket Board (ECB) last week. With the RPSG Group securing the majority share, the LCCC will continue with the remaining 30 per cent.
With this the RPSG Group now has three teams across cricket arena, featuring in several top-tier leagues, including LSG in Indian Premier League (IPL), Durban Super Giants in South Africa T20 (SA20) and Manchester Originals in The Hundred. "The investment provides Manchester Originals with a global sporting partner which shares the Originals' aspiration to become a major part of the sporting landscape in Manchester - one of the world's leading sports cities - alongside its two famous football clubs," LCCC said in a statement.
Investment in The Hundred part of growth strategy: Vice-Chairman Shaswat Goenka
Speaking after acquiring the majority stake in the 100-ball tournament, RPSG Group Vice-Chairman, Shaswat Goenka exclaimed that this step is important part of “growth strategy”. When asked about his take on the potential of the league and whether the investment is viable, Goenka said, “At RPSG group, our investments have been an important part of our growth strategy. We have invested in cricket in India (Lucknow Super Giants), in South Africa (Durban Super Giants), football in India (Mohun Bagan Super Giants). We believe there is huge space for investment."
While the Group acquired a stake in the franchise earlier this month after getting into a bidding war for London Spirits, Goenka believes that owning a majority stake in the Manchester franchise gives them an opportunity to be in a city which he considers as “one among the top five global sporting hubs". “It is among the top five sporting cities. It is a partnership and meeting of minds of two organizations who have the best interests in mind. We want to give players comfort to further their careers," he added.
