M&A

M&A

Sun TV Group acquires 100% stake in UK-based cricket team Northern Superchargers for $125-M

Economic Times  

Kalanithi Maran’s Sun Group has acquired a 100% stake in The Hundred’s Northern Superchargers, a franchise 100-ball cricket side based in Leeds, England, for GBP 100 million (about USD 125 million), purchasing both the England and Wales Cricket Board’s (ECB) 49% share and Yorkshire’s 51% share.The Sun Group, which also owns broadcaster Sun TV Network and the Sunrisers Hyderabad IPL team, becomes the third IPL franchise owner to successfully bid for a team in The Hundred, the ECB’s 100-ball competition featuring 8 teams. Additionally, Sun Group owns the Sunrisers Eastern Cape team in South Africa’s SA20 league.Sanjiv Goenka’s RPSG Group, owners of the IPL’s Lucknow Super Giants, won a bid to acquire a stake in Manchester Originals, valuing the team at GBP 107 million. RPSG has purchased a 70% stake.GMR Group, which co-owns IPL team Delhi Capitals, is the frontrunner to acquire Southern Brave, which is slated to come up for bidding.