NEW DELHI: The RPSG group buying a majority stake in Manchester Originals franchise in The Hundred is seen as breathing life into the finances of the Lancashire County Cricket Club. While the investment is a part of the growth strategy for RPSG, the owners of Lucknow Super Giants and Durban Super Giants, Originals chairman James Sheridan said the stake money will help in servicing the debts of the club.
“We knew something was going to change. It wasn’t easy to own this forever. Credit to the ECB for making this tournament investible. We do have some debt to service and this deal will be helpful in restructuring the debt service. We know we can grow from here. It will also help in recapitalizing the county game,” Sheridan said at an event in Manchester on Friday.
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The deal has added to the portfolio of RPSG group but Shashwat Goenka, vice chairman of the group, claimed that the two parties are yet to discuss renaming the franchise to bring uniformity amongst their three teams around the world.
“The Hundred is unique in what it offers. It is an interesting format of cricket. As far as changes are concerned, these are not questions which I am rightly positioned to answer. But we do look to bring in the same spirit of winning and playing as a team in all three teams. Sports is a part of our growth strategy,” Goenka said.
Sheridan heaped praise on the IPL franchises model. “India is the epicentre of cricket. What the IPL has done to cricket is phenomenal. We want to offer our fans an experience never before seen in English cricket — looking to the IPL, NFL and NBA for inspiration — as we take our match day and fan experience to a completely different level,” he said.