Sanpriya Group buys out LLC team Bhilwara Kings from LNJ Bhilwara Group

Sanpriya Group has acquired the Bhilwara Kings franchise in Legends League Cricket (LLC) from LNJ Bhilwara Group for an undisclosed sum, LLC said in a statement.

The LLC added that the LNJ Bhilwara Group has exited its investment with a fair gain from the sale of the franchise.

Raman Raheja, Co-Founder, LLC, said this was a direct deal between LNJ Bhilwara Group and Sanpriya Group.


"But I am glad that one of our franchises has been able to draw a similar value as that of the other similar but bigger deals that happened in IPL. Generally, these are at 5.5x multiples," he added.

Sanpriya Group is a conglomerate with business interests in education, manufacturing, real estate marketing, sports, and housing for the past 38 years.

Absolute Legends Sports, the promoter of LLC, recently raised a Rs 39 crore investment from Dubai-based real estate company Brickwork Development, valuing the league at Rs 350 crore.

Raheja, along with Vivek Khushalani, holds 60% of the league, which provides retired players an opportunity to earn money by playing cricket.

LLC has six franchises, including India Capitals (GMR Sports), Gujarat Giants (Adani Sportline), Bhilwara Kings (LNJ Bhilwara Group), Manipal Tigers (Manipal Education and Medical Group), Urbanrisers Hyderabad (Urbanrise Group/Trident Power), and Southern Superstars (KLO Sports).

The 2024 edition of the tournament will be held from September 11 to October 5, with India and Qatar hosting the 34 matches.