Sanjiv Goenka, owner of Lucknow Super Giants, acquired Manchester Originals in The Hundred

Sanjiv Goenka, the owner of Lucknow Super Giants (LSG) in the Indian Premier League (IPL) and the head of RPSG Group, has acquired the Manchester Originals franchise in The Hundred. According to Cricbuzz, Goenka outbid other opponents, including an IPL team. Sanjiv Goenka, the owner of Lucknow Super Giants, has acquired Manchester Originals. (PTI)

For the uninitiated, Manchester Originals is led by Phil Salt in the premier competition organised by the England and Wales Cricket Board (ECB).

The acquisition's value is estimated to be around GBP 107 million. This amount is half of London Spirit's enterprise valuation, which was earlier sold to a consortium of US-based tech billionaires for 195 million GBP.

According to Cricbuzz, Goenka also strongly pursued a London-based franchise, but he gave up in the end.

The value of the franchise was determined through e-auction. However, it is not known who the other contenders were for acquiring Manchester Originals.

Sanjiv Goenka also owns Durban Super Giants in the SA20. Manchester Originals will be Goenka's third franchise team in global T20 leagues.

Ambani family acquire 49 per cent stake in Oval Invincibles

Reliance Industries Limited, owned by India's wealthiest Ambani family, recently acquired a 49 per cent stake in the Oval Invincibles. The group already owns the Mumbai Indians franchise in the IPL and teams in South Africa, the UAE, and the USA.

A full valuation of Invincibles was estimated at £120 million, placing Reliance's investment at around £60 million.

According to ESPNCricinfo, Reliance Industries Ltd. defeated competition from a Silicon Valley tech consortium comprising the chief executives of Google, Microsoft, and Adobe, as well as private equity giant CVC.

Oval Invincibles, the two-time defending champions in the men's Hundred, were the first team to be sold in the final round of the ECB's sales process.

The Invincibles are now the sixth team under RIL's management, following Mumbai Indians (IPL and WPL), MI Emirates (UAE), MI Cape Town (SA), and MI New York (USA).

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