Exclusive: Lucknow Super Giants close in on $200 million fund raise
UK-based investor group negotiating a minority stake in the IPL franchise in one of the league’s largest recent equity deals
Lucknow Super Giants (LSG), one of the Indian Premier League’s (IPL) newer franchises, is nearing a raise of about $200 million in primary capital at a valuation close to $1.3 billion, according to multiple people who spoke to The State of Play on condition of confidentiality. If completed, the transaction would be among the largest equity investments into an IPL team since the competition added two new entrants in 2022.
A UK-based consortium led by Jordan Associates, the investment vehicle established in 2024 by the family of the late F1 team owner Eddie Jordan, is negotiating a nearly 15% stake. The structure permits further participation through backfilling, enabling other investors to join the round.
