Sanjiv Goenka, who owns the Lucknow Super Giants (LSG) in the Indian Premier League (IPL) and heads the RPSG Group, has snagged the Manchester Originals franchise in The Hundred. As reported by Cricbuzz, he outbid several competitors, including an IPL team.

For those who might not know, the Manchester Originals are captained by Phil Salt in this top-tier competition run by the England and Wales Cricket Board (ECB).

The deal is valued at around GBP 107 million, which is about half of what the London Spirit was valued at when it was sold to a group of US tech billionaires for GBP 195 million.

Cricbuzz also mentioned that Goenka had his sights set on a London-based franchise but ultimately decided to back off.

The franchise's value was set through an e-auction, but the identities of the other bidders for Manchester Originals remain a mystery.

In addition to the Manchester Originals, Sanjiv Goenka also owns the Durban Super Giants in the SA20 league, making this his third franchise in global T20 competitions.

The Ambani family has picked up a 49 percent share in the Oval Invincibles

Reliance Industries Limited, which is owned by the super-rich Ambani family in India, just snagged a 49% share in the Oval Invincibles. They already have the Mumbai Indians in the IPL and teams in South Africa, the UAE, and the USA.

The total value of the Invincibles was pegged at £120 million, meaning Reliance's stake is about £60 million.

As reported by ESPNCricinfo, Reliance outbid a tech consortium from Silicon Valley that included the CEOs of Google, Microsoft, and Adobe, along with the private equity firm CVC.

The Oval Invincibles, who are the reigning champions in the men's Hundred, were the first team sold in the last round of the ECB's sales process.

With this acquisition, the Invincibles become the sixth team under Reliance's umbrella, joining the Mumbai Indians (IPL and WPL), MI Emirates (UAE), MI Cape Town (SA), and MI New York (USA).

Read Also: Alcaraz Calls Sinner "The Best Right Now" as Rivalry Draws Federer-Nadal Comparisons

Get the latest Bollywood entertainment news, trending celebrity news, latest celebrity news, new movie reviews, latest entertainment news, latest Bollywood news, and Bollywood celebrity fashion & style updates!

HOW DID YOU LIKE THIS ARTICLE? CHOOSE YOUR EMOTICON!