The company name RedBird Capital Partners who also own stakes in Premier League team Liverpool have purchased a 15% stake in Indian Premier League team Rajasthan Royal for an amount not known to the public.
Although London based investment firm Emerging Media own the majority share of the Rajasthan Royals have recently announced their acquisition in a joint statement with Redbird Capital on 24th June 2021.
Redbird Capital Partners founder Gerry Cardinale also stated “The IPL is a dynamic league with a global audience and forward-thinking mindset regarding fan and player engagement.”
The Indian Premier League team is estimated to currently hold a net value of a total of $300 million. The owner of Rajasthan Royals Manoj Badale stated “Such an investment is testament to the global standing of the IPL and India as an attractive investment destination.”
IPL is no stranger to big names, celebrities, Bollywood actors and is watched across and is reportedly the world’s richest and most lucrative cricket league as a result its broadcasting rights were sold at the price of a massive $2.2 Billion USD.
However, during the pandemic, the Indian Premier League’s net value has decreased by 3.6% and so has the IPL franchise Rajasthan Royal’s value by a margin of 8%. According to Emerging Media’s statement, they have extended their grip on the IPL franchise from 51% to 65% amid the pandemic.
RedBird Capitals are no stranger to sporting investments as they also have stakes in Premier League giants Liverpool, French football team Toulouse and baseball’s the Red Sox in the United States