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The Guardian
14 minutes ago
- Business
- The Guardian
Deals for six Hundred franchises completed with £520m windfall expected
The ECB has announced that deals for six of the eight Hundred franchises have been completed, with a total windfall of £520m expected once paperwork for the final two teams is finalised later this year. The sales process was completed in February, when eight parties entered into an exclusivity period having agreed deals which valued the teams at a combined £975m. Work has been ongoing to formalise the sales over the last five months, with the process described as being 'in the final straight' as long ago as April, with signatures at that point expected 'very, very soon'. But the complexity of the legal arrangements – one county executive said 73 different contracts had to be agreed and signed off before the sale of a minority stake in their one franchise could be completed – and the new investors' desire to have as much control as possible over the competition's future combined to delay the announcement. The completed deals involve the purchase of 49% stakes in Birmingham Phoenix, Southern Brave and the Lord's-based London Spirit, a 50% stake in Welsh Fire, 70% in Manchester Originals and the complete takeover of Northern Superchargers by India's Sun TV network. Oval Invincibles and Trent Rockets remain in the process of finalising deals for 49% stakes, which are expected to conclude by the end of September. Proceeds are to be shared between professional counties and the grassroots game. 'This investment will not only fuel the competition's growth but also channel transformative levels of funding into our professional counties and grassroots game,' said Richard Thompson, the ECB chair. 'This will ensure cricket continues to thrive at all levels across England and Wales for generations to come, supporting our broader ambitions to become the country's most inclusive sport and driving cricket into harder to reach and under-served communities.' The ECB retains ownership of the competition itself, its regulations and the length and timing of the window in which it is played. But the investors will hold various vetos, including over its potential future expansion, and alongside the ECB and host counties will be represented on a new Hundred board. Sign up to The Spin Subscribe to our cricket newsletter for our writers' thoughts on the biggest stories and a review of the week's action after newsletter promotion 'The Hundred has created a stage where tradition meets innovation and fans of all ages are tuning in,' said Kaviya Maran, head of sports at Sun TV. 'It's a gamechanger and we are here to help push it even further. For someone who is passionate about the game's future, especially bringing more women and younger fans into it, this investment felt like a no brainer.'
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Business Standard
a day ago
- Business
- Business Standard
RPSG Ventures shares gain 5% on 70% stake purchase in Manchester Originals
Shares of RPSG Ventures rose over 5 per cent on Tuesday after the company's subsidiary acquired over 70 per cent stake in a professional cricket franchise based in Manchester, England, for ₹860 crore. The company's stock rose as much as 5.09 per cent during the day to ₹999.9 per share, the biggest intraday rise since July 24 this year. The stock pared gains to trade 2.4 per cent higher at ₹974 apiece, compared to a 0.1 per cent advance in Nifty 50 as of 11:55 AM. Shares of the company have risen about 10 per cent from their recent lows of ₹876 per share in early July. The counter has fallen 5.4 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. RPSG Ventures has a total market capitalisation of ₹3,221.46 crore. Track LIVE Stock Market Updates Here RPSG acquires 70% stake in Manchester Originals RPSG Sports Ventures Pvt. Ltd., a subsidiary of the RPSG Group, acquired a 70 per cent equity stake in Manchester Originals Limited, a professional cricket franchise based in Manchester, England, according to an exchange filing on Monday. The acquisition, valued at £81.21 million (approximately ₹860 crore), was completed on the date of this announcement, making Manchester Originals a subsidiary of RPSVPL and a step-down subsidiary of the parent company, the company said in a statement. The deal was executed through a Share Purchase Agreement with the England and Wales Cricket Board (ECB), with the consideration to be paid over a period of 24 months as outlined in the agreement. RPSVPL has also entered into related transaction documents with ECB, Manchester Originals Ltd., Lancashire County Cricket Club (LCCC), and other involved parties. About RPSG Ventures The company is an investment firm that seeks to back early-stage companies, particularly in sectors such as consumer products, technology, and healthcare. RPSG Ventures Limited, along with its subsidiaries, operates a diversified portfolio of businesses, including information technology (IT) services, business process management (BPM), fast-moving consumer goods (FMCG,) including ayurvedic formulations, real estate and sports.
Economic Times
a day ago
- Business
- Economic Times
RPSG Ventures shares rally 5% after acquiring 70% stake in Manchester Originals for £81.2 million
Live Events Turnover for Manchester Originals over the past three financial years stood at: FY24: GBP 2,044,639 FY23: GBP 1,965,385 FY22: GBP 1,431,719 (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of RPSG Ventures surged 4.7% to an intraday high of Rs 999.05 on the BSE on Tuesday, July 29, after its subsidiary RPSG Sports Ventures completed the acquisition of a 70% equity stake in Manchester Originals Ltd for a total consideration of GBP 81,210, acquisition amount, to be paid over a period of 24 months, marks a significant expansion of RPSG Ventures into international sports assets, particularly in the cricketing acquisition was executed via a Share Purchase Agreement signed with the England and Wales Cricket Board (ECB). Additionally, RPSGVPL has entered into supporting agreements with ECB, Manchester Originals, and Lancashire County Cricket Club Ltd (LCCC) in relation to the the completion of the deal, Manchester Originals has become a subsidiary of RPSGVPL and a step-down subsidiary of RPSG Originals is a professional cricket franchise based in Manchester, England, and competes in the 'The Hundred' competition. The team represents Lancashire and was incorporated on May 10, per audited financials, the franchise reported a turnover of GBP 2,044,639 for the financial year ending January transaction is not categorised as a related-party transaction, with the promoter group confirming no prior interest in the target entity. The consideration is entirely in cash, and RPSGVPL now holds 70 ordinary shares, representing 70% equity in Manchester Monday, the shares of RPSG Ventures closed 4.3% lower at Rs 953.95 on the BSE: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
a day ago
- Business
- Time of India
RPSG Ventures shares rally 5% after acquiring 70% stake in Manchester Originals for £81.2 million
Shares of RPSG Ventures surged 4.7% to an intraday high of Rs 999.05 on the BSE on Tuesday, July 29, after its subsidiary RPSG Sports Ventures completed the acquisition of a 70% equity stake in Manchester Originals Ltd for a total consideration of GBP 81,210,000. The acquisition amount, to be paid over a period of 24 months, marks a significant expansion of RPSG Ventures into international sports assets, particularly in the cricketing space. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management healthcare Public Policy PGDM others MBA Product Management Finance Technology Degree MCA Cybersecurity Management Data Science Leadership Design Thinking Healthcare Operations Management CXO Data Science Others Data Analytics Artificial Intelligence Digital Marketing Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Are you ready to conquer a planet? Undo The acquisition was executed via a Share Purchase Agreement signed with the England and Wales Cricket Board (ECB). Additionally, RPSGVPL has entered into supporting agreements with ECB, Manchester Originals, and Lancashire County Cricket Club Ltd (LCCC) in relation to the transaction. Following the completion of the deal, Manchester Originals has become a subsidiary of RPSGVPL and a step-down subsidiary of RPSG Ventures. Manchester Originals is a professional cricket franchise based in Manchester, England, and competes in the 'The Hundred' competition. The team represents Lancashire and was incorporated on May 10, 2019. Live Events As per audited financials, the franchise reported a turnover of GBP 2,044,639 for the financial year ending January 2024. The transaction is not categorised as a related-party transaction, with the promoter group confirming no prior interest in the target entity. The consideration is entirely in cash, and RPSGVPL now holds 70 ordinary shares, representing 70% equity in Manchester Originals. Turnover for Manchester Originals over the past three financial years stood at: FY24: GBP 2,044,639 FY23: GBP 1,965,385 FY22: GBP 1,431,719 Also read: NSDL IPO: What GMP signals ahead of launch and what it means for investors On Monday, the shares of RPSG Ventures closed 4.3% lower at Rs 953.95 on the BSE ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business Upturn
a day ago
- Business
- Business Upturn
RPSG Ventures shares rise over 3% after Manchester Originals acquisition update
By Aditya Bhagchandani Published on July 29, 2025, 09:41 IST Shares of RPSG Ventures Ltd jumped over 3.6% on Monday, July 29, to ₹986.00 on the NSE after the company confirmed the acquisition of a majority stake in a UK-based cricket franchise. The surge came after RPSG Sports Ventures Pvt Ltd (RPSVPL), a subsidiary of RPSG Ventures, executed a Share Purchase Agreement with the England and Wales Cricket Board (ECB) to acquire a 70% equity stake in Manchester Originals Ltd. According to the company's stock exchange filing, the acquisition was completed on July 28, 2025, for a total consideration of GBP 81.21 million (approx ₹941 crore), to be paid over a period of 24 months. This strategic move brings Manchester Originals—a team in 'The Hundred' cricket tournament—under RPSG's sports portfolio. The management said the acquisition is part of RPSG's long-term vision to strengthen its footprint in the global sports ecosystem, particularly in cricket. It expects the deal to open up international growth opportunities through collaborations, talent development, and increased brand visibility across major cricket markets. Manchester Originals, founded in 2019, had a turnover of GBP 2.04 million for the financial year ending January 2024. The team represents Lancashire in The Hundred and becomes a step-down subsidiary of RPSG Ventures following the acquisition. The announcement was well received by investors, pushing the stock to its day's high of ₹988.65. RPSG shares have now gained over 45% in the past six months. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
