Sanjiv Goenka Acquires Manchester Originals Franchise in The Hundred
Author: Joy Sarcar
Updated At:
Sanjiv Goenka, the Kolkata-based businessman and owner of Lucknow Super Giants and Durban Super Giants, has made another major acquisition in the cricketing world. The head of RPSG Group has successfully secured the Manchester Originals franchise in The Hundred tournament. The Lancashire-based team was led by Phil Salt last season in the absence of regular captain Jos Buttler.
Financial Details of the Deal
The exact financial details of the transaction have not been officially disclosed, but sources reveal that the deal was sealed for approximately 107 million GBP. This valuation is significantly lower than that of London Spirit, which was acquired by a consortium of US-based tech billionaires for 195 million GBP. Goenka was initially keen on purchasing the Lord's-based franchise but later shifted focus to Manchester Originals, where he now owns a 49 percent stake.
Competition for Ownership
While details about rival bidders remain undisclosed, it is evident that the franchise's value was determined through an e-auction process. Speculation was rife that the Glazer family, owners of Manchester United, and CVC Capital might have been among the contenders, but neither was ultimately in the race. Reports suggest that an IPL team was also competing against Goenka, alongside a tech-based consortium. However, Goenka eventually emerged victorious.
Although Rajasthan Royals, Chennai Super Kings, and Kolkata Knight Riders were initially linked with the bid, it remains unclear if any of them re-entered the race towards the final stages of the bidding process.
IPL Owners in The Hundred
Of the five teams sold so far in The Hundred - Oval Invincibles, Welsh Fire, London Spirit, Birmingham Phoenix, and Manchester Originals - two have been acquired by IPL owners. Mukesh Ambani and Goenka now own teams in the tournament, adding to the increasing influence of IPL stakeholders in global cricket leagues.
The remaining three teams yet to be sold include Trent Rockets, Northern Superchargers, and Southern Brave. The SunRisers franchise is believed to be leading the race for one of these teams, while Delhi Capitals' GMR Group is expected to retain Southern Brave.
Goenka’s Sporting Investments
Sanjiv Goenka's passion for sports is well documented. Three years ago, he made headlines by securing the Lucknow IPL franchise with a record-breaking bid of Rs 1090 crore. At the time, his aggressive bid was considered groundbreaking. He previously owned Pune SuperGiants, which played in the IPL as an interim franchise, and also owns a football team in the Indian Super League (ISL).
With his recent acquisition in The Hundred, Goenka continues to expand his footprint in the global cricketing landscape. Given the rapid growth of franchise-based cricket leagues worldwide, investors are keenly exploring opportunities in this space. This trend is particularly relevant for those interested in how to bet on cricket matches in India, as franchise cricket gains popularity among betting enthusiasts.
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