After MI, LSG owners invest in The Hundred, buy stake in Manchester Originals
The world of cricket is witnessing a new wave of investment, with Indian business tycoons and global tech moguls making significant forays into the sport. The latest development in this regard is the Indian-owned RPSG group, which acquired a 49% stake in the Manchester Originals team in The Hundred, a professional 100-ball cricket league in England and Wales.
This move follows the news of the Reliance India Limited, owners of the Mumbai Indians (MI) franchise, acquiring a stake in the Oval Invincibles team. Meanwhile, a consortium of Silicon Valley executives, including Google CEO Sundar Pichai and Microsoft CEO Satya Nadella, purchased London Spirit for a record sum of £144 million.
The RPSG group, owned by Sanjiv Goenka, is a well-known entity in the Indian business landscape. The group has a diverse portfolio of interests, including power generation, chemicals, and hospitality. The acquisition of a stake in the Manchester Originals team marks a significant foray into the world of cricket for the RPSG group.
The Manchester Originals team is one of the eight teams competing in The Hundred, which is a new professional cricket league in England and Wales. The league is designed to be a more viewer-friendly and spectator-centric format, with a unique 100-ball game and a shorter duration. The Hundred is seen as a major innovation in the world of cricket, with the potential to attract a new audience and increase the sport’s global appeal.
The acquisition of a stake in the Manchester Originals team is a strategic move by the RPSG group, which is looking to expand its presence in the global cricket market. With the Indian Premier League (IPL) already a massive success, the group sees an opportunity to tap into the growing popularity of cricket in England and Wales.
The RPSG group’s investment in the Manchester Originals team is also seen as a vote of confidence in the future of the Hundred. The league has received significant investment and backing from the England and Wales Cricket Board (ECB), and the involvement of the RPSG group is likely to help attract more Indian talent and fans to the league.
The acquisition of a stake in the Manchester Originals team is not the first foray into English cricket for the RPSG group. In 2019, the group acquired a 94% stake in the Lucknow Super Giants (LSG) franchise in the IPL. The LSG team made its debut in the 2022 season and has been making steady progress, with a strong team and a loyal fan base.
The RPSG group’s investment in the Manchester Originals team is likely to have a positive impact on the LSG team, with the potential for cross-pollination of talent and expertise between the two franchises. The group’s experience in managing the LSG team will also be valuable in helping to establish the Manchester Originals team as a successful franchise in The Hundred.
The involvement of Indian business tycoons and global tech moguls in The Hundred is a significant development for the sport. It marks a new era of investment and interest in cricket, with the potential to increase the sport’s global appeal and reach a wider audience.
The acquisition of a stake in the Manchester Originals team by the RPSG group is also a testament to the growing popularity of cricket in India. Cricket is already the most popular sport in India, with a massive following and a strong fan base. The involvement of Indian business tycoons in The Hundred is likely to help increase the sport’s popularity in India, with the potential for more Indian fans to follow the league and support the Manchester Originals team.
In conclusion, the acquisition of a stake in the Manchester Originals team by the RPSG group is a significant development in the world of cricket. It marks a new era of investment and interest in the sport, with the potential to increase its global appeal and reach a wider audience. The involvement of Indian business tycoons and global tech moguls in The Hundred is a testament to the growing popularity of cricket, and we can expect to see more exciting developments in the world of cricket in the coming years.
News Source: https://indianexpress.com/article/sports/cricket/after-mi-lsg-owners-buy-stake-in-manchester-originals-9816581/lite/
