RPSG Group enters into exclusive negotiations to become a partner in Manchester Originals
Lancashire Cricket and RP-Sanjiv Goenka Group (RPSG) have entered into an exclusivity period following its success in the team auction held by the England and Wales Cricket Board (ECB) last week. RPSG is one of India’s fastest growing conglomerates and owns Lucknow Super Giants in the Indian Premier League (IPL) and Durban's Super Giants in the South Africa T20.
RPSG Group has agreed to purchase a 70% stake in Manchester Originals. The remaining 30% is owned by Lancashire Cricket Club.
The historic investment from RPSG 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.
RPSG and Lancashire Cricket have worked to develop a collaborative joint venture framework to further their sporting ambitions with best practice shared between Lancashire Men, Lancashire Women, Lucknow Super Giants and Durban’s Super Giants. This will ensure that they create the best environments for their players and staff to be successful on and off the pitch. The investment will also provide Lancashire with additional funds which it will look to invest in cricket infrastructure projects and at Emirates Old Trafford to enhance the fan and member experience.
Lancashire Cricket Chair, Andy Anson, said: “This announcement marks a momentous occasion for Lancashire Cricket. We have been very focused on securing a great sporting partner for the Manchester Originals and RPSG has been our preferred bidder for some time. As we said last week, we are delighted by the outcome and look forward to working together to create an exciting future.
“This investment is crucial to the long-term future of Lancashire Cricket and will protect county cricket in the UK for the next generation. We look forward to working with Members as we invest in major cricket related initiatives at Emirates Old Trafford and our new second home in Farington. I would also like to thank the Club’s Members for their patience and input throughout this process.”
Manchester Originals Chair, James Sheridan, commented: “Manchester Originals offers a compelling growth opportunity for a partner sharing our ambitions to grow our fanbase, business and teams - and together we are committed to leading Manchester Originals and Lancashire Cricket into an exciting new era alongside RPSG Group.
“We want to offer our fans an experience never before seen in English cricket - looking to the IPL, and other major sports, for inspiration, as we take our match day and fan experience to a completely different level. Whether in stadia or via digital channels, Manchester will be the team to follow in The Hundred as we will look to bring the world’s top cricket stars, both female and male, to Manchester every August and provide sporting entertainment of the highest level to the people of Manchester and the wider North West.“
Dr Sanjiv Goenka, Chairman of the RPSG Group, added: "We respect the legacy of Lancashire Cricket and we welcome Manchester Originals to our RPSG family. We are committed to developing a deep bond with the players, support team and the whole community at large. We believe in excellence and see a huge potential to deliver good quality cricket for generations to come."
Mr. Shashwat Goenka, Vice Chairman of the RPSG Group, said: "We are very excited with this partnership, and we believe this gives us the impetus to chart a new experience for our fanbase. Together with Lancashire Cricket, it is our endeavour to provide an elevated and meaningful experience to everyone who loves cricket."
The investment remains subject to a satisfactory conclusion of the final due diligence and legal processes and a further announcement will be made in due course.
