Lucknow Super Giants owners, RP‑Sanjiv Goenka Group, are exploring a minority stake sale in the franchise.
The move could unlock value from the team without diluting control, as the group plans to retain majority ownership while bringing in external capital.
Royal Challengers Bengaluru and Rajasthan Royals are also currently in the middle of stake sale processes.
RP-SG Group Looks to Cash In on IPL Franchise LSG With Minority Stake Sale
The group is looking to offload up to 15% of the franchise, though the final decision will hinge on whether the valuations offered by investors are attractive enough
Lucknow Super Giants LSG
Summary
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Sanjiv Goenka's RP-SG Group is exploring the sale of a minority stake in its Indian Premier League (IPL) franchise, the Lucknow Super Giants (LSG), according to a Moneycontrol report.
The group is looking to offload up to 15% of the franchise, though the final decision will hinge on whether the valuations offered by investors are attractive enough. If the offers fall short, the group may choose not to go ahead with the sale at all.
RP-SG Group acquired the Lucknow franchise back in November 2021 for ₹7,090 crore. The franchise is held through a company called RPSG Sports Private Limited.
The group also has an annual franchise fee obligation of ₹709 crore payable to the Board of Control for Cricket in India (BCCI) every year until 2031.
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According to ratings agency CareEdge, the franchise's biggest source of income is the annual rights fee paid by the BCCI. In the first half of the current financial year (H1 FY26), LSG received ₹399 crore from the BCCI as franchise rights payments, compared to ₹458 crore for the full year FY25.
Overall, the franchise reported revenue of ₹495.9 crore and a profit of ₹63.7 crore in H1 FY26. Full-year revenue for FY25 dipped about 20% to ₹557 crore, largely because LSG played fewer matches and finished lower in the IPL standings in the 2024 season compared to 2023, which directly impacted earnings.
Revenue in H1 FY26 has since recovered slightly, growing around 3% over the same period last year.
Goenka's move is part of a broader trend sweeping Indian cricket. IPL franchise owners are increasingly looking to monetise their teams as investor appetite for cricket-related assets grows rapidly, both in India and globally.
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Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) are also currently in the middle of stake sale processes.
In the most high-profile deal underway, the Aditya Birla Group has reportedly teamed up with American sports investor David Blitzer to form a consortium and submit a joint binding bid for a majority stake in Rajasthan Royals, according to Moneycontrol, which first reported the development.
The stake, currently held by entrepreneur Manoj Badale, is being valued at around $1 billion to $1.2 billion.