An investment firm, Tiger Global, is planning to acquire a stake in the franchise of the Rajasthan Royals of the Indian Premier League
An investment firm, Tiger Global, is planning to acquire a stake in the franchise of the Rajasthan Royals of the Indian Premier League. The company is known widely for its technological investments, and now it will enter the IPL. According to a report, the New York-based investment firm is expected to spend around $40 million as they raise the value of the Rajasthan Royals to $650 million.
This investment may be direct or indirect, and there is a potential that Tiger Global may provide a cash injection to one of the franchise’s current shareholders. The transaction will also likely be finished soon. Currently, Manoj Badale’s Emerging Media IPL Ltd., which holds around 65% of the shares in the franchise, is a co-owner of the Rajasthan Royals.
According to the report, there were discussions about investments with other Indian Premier League franchises. Tiger Global is a shareholder in Dream Sports, which operates Dream11, a well-known sports fantasy game website. The company has also sponsored businesses like Zomato, Ola, and Delivery, in addition to e-commerce giants such as Flipkart and Amazon.