Cricket News India – New York-based firm Tiger Global is set to invest in Indian Premier League (IPL) franchise Rajasthan Royals. Tiger Global is going to take a financial stake in the franchise operations and the investors are looking forward to infusing $40 Million at a whopping valuation of $650 Million.
Tiger Global is a strategic investment firm and is known to fund eminent businesses including food delivery platform Zomato, e-commerce giant Flipkart, taxi aggregator Ola, and logistics supremo Delhivery. Notably, Tiger Global also owns a significant share in the largest online fantasy sports platform Dream Sports which operates Dream 11.
It is believed that Tiger Global is in talks with the franchise owners of Rajasthan Royals. The deal is reportedly going to proceed fruitfully as the franchise’s investment of $40 Million at a valuation of $650 million is exceptionally satisfactory to match the standards of the lucrative cricket league.
Rajasthan Royals is owned by UK-based entrepreneur Manoj Badale
The Rajasthan Royals franchise is currently owned by its parent entity Emerging Media which is owned by United Kingdom (UK) based entrepreneur Manoj Badale. United States of America (USA) firm RedBird Capital stepped in to invest in RR in 2021 and successfully executed a secondary deal of shares worth $250 Million.
Rajasthan Royals emerged as the winner of the Indian Premier League in the inaugural season in 2008. Since then, the franchise has failed to win any title. Rajasthan had an exemplary stint in 2022 where they finished as the runners-up.
Unfortunately, Rajasthan Royals have been eliminated from the ongoing edition of the Tata Indian Premier League 2023. Rajasthan Royals managed to win only 7 games of their 14 pool stage fixtures and ended up in the standings with 14 points. Rajasthan finished fifth in the standings and failed to qualify for the Playoffs.
Gujarat Titans and Chennai Super Kings finished at the 1st and 2nd position respectively and will battle it out in the Playoffs. Lucknow Super Giants and Mumbai Indians finished at the 3rd and 4th position respectively and will face off in the Eliminator. The team which will lose Qualifier 1 will then face the winner of the Eliminator clash in Qualifier 2. The winner of Qualifier 2 will face the winner of Qualifier 1 in the IPL 2o23 Final.
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