If you are a Rajasthan Royals fan, then there is some news that you need to know. RedBird Capital Partners, the Investment firm has decided to obtain a 15% stake in the Rajasthan Royals franchise. However, the amount that they have invested has not been disclosed. RedBird Capital Partners has also invested in the Football club Liverpool as well. Sources also state that the Rajasthan Royals side is valued at a whopping $300 Million.
Gerry Cardinale, the founder and Managing Director of RedBird Capital stated that the Indian Premier League (IPL) is a dynamic league that has a global audience. He further added that the IPL has a forward-thinking mindset with respect to player engagement.
Cardinale also opined that his company will support the Rajasthan side in their sporting performances and business operations.
“The IPL is a dynamic league with a global audience and forward-thinking mind-set regarding fan and player engagement. The Royals have contributed to this progressive approach and we look forward to further supporting its on-field sporting performance, business operations and contributions to its community,” said Cardinale as quoted by BehindSports.
We are extremely excited to partner with RedBird: Manoj Badale
The owner of the Rajasthan Royals, Manoj Badale stated that the Rajasthan Royals (RR) franchise is excited to partner with an experienced investment firm that shares a vision of growth and success. He further added that the investment made by RedBird Capital stands testimony to the global standing of the IPL and concluded by stating that the Rajasthan Royals are looking forward to a strategic partnership with RedBird Capital.
“We are extremely excited to partner with RedBird, an experienced investment firm that shares our vision of driving growth and success for the Rajasthan Royals franchise.
Such an investment is testament to the global standing of the IPL and India as an attractive investment destination. Gerry Cardinale and his team at RedBird are leaders in sports business and we look forward to all that can be achieved through this truly strategic partnership,” concluded Badale.
On the cricketing side of things, the Rajasthan Royals side did not have a good start to the 14th edition of the IPL. At the time of suspension of IPL 2021, the Rajasthan outfit is placed at the 5th place in the points table and has lost 4 out of the 7 matches that it has played in the tournament.