Manchester Originals have become the second Hundred franchise to partner with an Indian Premier League team after Lancashire agreed a deal with Lucknow Super Giants.
RPSG group, owners of the Super Giants, will pay about £58m for a 49% stake in the Originals, whose total value was placed at about £116m in Monday’s virtual auction.
To go with the four stakes sold last week, the sale of 49% shares in five Hundred teams comes to about £343m.
RPSG were in the running to buy a stake in London Spirit, only to lose out. In investing in the Originals, they are believed to have beaten off bids connected to final IPL sides Kolkata Knight Riders and Royal Challengers Bengaluru.
Lancashire chief executive Daniel Gidney had previously been open about the county’s desire to partner with an IPL team.
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.”
