The Manchester Originals have become the second Hundred franchise to receive investment from an Indian Premier League (IPL) club owner, with RPSG Group securing a 70% stake in the team.
RPSG Group, the owners of the IPL’s Lucknow Super Giants, have taken a controlling stake in Manchester Originals after valuing the franchise at £116m during a virtual auction.
Lancashire County Cricket Club, which has become the first host county club to sell a majority share in its Hundred team, has retained a 30% share in the Originals.
Last week, four other Hundred teams agreed partial sales.
Surrey secured a reported £60m agreement with the owners of Mumbai Indians for a 49% stake in Oval Invincibles, while Warwickshire, Glamorgan, and Marylebone Cricket Club each sold 49% stakes in the Birmingham Phoenix, Welsh Fire, and London Spirit respectively.
The combined sale of shares in the five teams has reached approximately £366m. All successful bidders are now in an eight-week exclusivity period to finalise the transactions.
Lancashire has stated that proceeds from the sale will be used to reduce debt, develop a second ground in Farington, build a new indoor school, and enhance facilities for members.
A Lancashire statement said, “We have been very focused on securing a great partner – ideally from the IPL – and RPSG has been our preferred bidder for some time.
“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.”
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