The investment company RedBird Capital Partners, which has invested in the parent company, which owns the iconic Liverpool football club and the Boston Red Sox baseball team, has acquired a 15% stake in IPL Rajasthan Royals franchise.
However, the amount of the deal has not been disclosed.
Own Manoj Badale Emerging Media has a majority stake in the IPL team, which won its first edition in 2008.
“Following the deal, RedBird will hold 15 percent of Royals’ shares and Emerging Media will increase its ownership from 51 percent to 65 percent,” the Royals website said in a statement. Badale said the deal was a testament to IPL’s global position.
“We are extremely happy to partner with RedBird, an experienced investment firm that shares our vision to drive growth and success for the Rajasthan Royals franchise.
“Such an investment is a testament to the global position of IPL and India as an attractive investment destination.”
RedBird founder and MD Gary Cardinale said: “IPL is a dynamic league with a global audience and forward thinking, in terms of fan and player engagement.
“The grand pianos have contributed to this progressive approach and we look forward to further support for his field performances, business operations and contribution to his community.”