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, put a total value of £116m on the Originals in Monday’s virtual auction.
They agreed to take a 70% share in the Originals, meaning Lancashire have become the first host to hand over a controlling stake.
To go with the four deals last week, the sale of shares in five Hundred teams comes to about £366m.
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 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.”
