Private investment firm RedBird Capital Partners, which has interests in the parent company of Liverpool and the Boston Red Sox, has picked up a 15% stake in the Indian Premier League(IPL) cricket franchise Rajasthan Royals for an undisclosed amount.
RedBird Capital invests in Rajasthan Royals
The news was made public by a joint official statement made by Emerging Media and former Goldman Sachs Partner Gerry Cardinale, who is the founder of RedBird Capital. The statement, however, did not disclose any financial details regarding the acquisition.
“The IPL is a dynamic league with a global audience and forward-thinking mindset regarding fan and player engagement,” Cardinale was quoted in the statement, which also revealed that Emerging Media has increased their majority stake in the franchise from 51% to 65%.
However, a report made by The Financial Times claims that the investment made by RedBird Capital is in the region of $37.5 million, which translated into the Royals being valued at $250 million.
Being the biggest cricket league and fourth-biggest sports league in the world (as per Athletic Panda), IPL’s popularity across the globe has reached unprecedented heights throughout its seasons.
During the last five-year period, the TV and digital rights for the eight-franchise tournament went for 163.48 billion rupees ($2.20 billion) to STAR Sports. RR’s brand value, however, saw a dip of 8% last year to 2.49 billion rupees.
Alongside picking up a minority stake in Fenway Sports Group, the owner of Liverpool and Red Sox and the XFL, RedBird Capital are also the majority owner of Ligue 1 football team Toulouse.
With three wins and four losses, Rajasthan Royals are currently placed in the fifth spot in the IPL 2021 Points Table, the 14th edition of the league which is currently met with a postponement since 14th May, as BCCI has planned to host the remaining matches of the tournament in the UAE in September and October this year.
What is the Brand Value of Rajasthan Royals?
Rajasthan Royals Brand Value in USD
- 2018: 43 Million
- 2019: 43.4 Million
- 2020: 36.4 Million
Who owns Rajasthan Royals?
Amisha Hathiramani (Tresco International Ltd)
Amisha Hathiramani’s Tresco International Ltd owns 44.2% shares in the Rajasthan Royals side. Her father, Suresh Chellaram, used to hold the same before he transferred his entire stake to his daughter in 2015.
Manoj Badale (Emerging Media (IPL) Ltd)
Manoj Badale is an Indian businessman. He is one of the co-owners of Rajasthan Royals. He owns a 32.4% stake in the popular franchise courtesy of Emerging Media (IPL) Ltd.
Lachlan Murdoch (Blue Water Estate Ltd)
Lachlan Murdoch is an Australian-British-American businessman and one of the co-owners of the Royals. His Blue Water Estate Ltd owns 11.7% shares in the franchise.
Shane Warne (Former Australian cricketer)
Former Australian cricketer Shane Warne himself represented Rajasthan Royals in the initial few seasons.
After retirement, he took up the co-ownership of the popular franchise through his undergarment brand called as ‘Spinners’. The former cricketer owns a 3% share in the team.