Indian Premier League is one of the richest cricket leagues, and now this Indian league is making its market at the international level. New York-based investor Tiger Global, known for its investments in tech-focused companies, is reportedly in talks to invest $40 million in Indian Premier League (IPL) franchise Rajasthan Royals.
Tiger Global is recently active in the Indian market, and now they are showing their interest in cricket. The investment is expected to be at a valuation of $650 million. Rajasthan Royals is currently owned by Manoj Badale of the UK, who has held a majority stake of 60% since 2008.
As per the sources, this deal is almost complete. But there isn’t any official announcement from any organization on this deal. As per the report, the capital investment in Rajasthan Royals by Tiger Global could take the form of direct investment or indirect investment by backing one of the existing shareholders.
This move represents Tiger Global’s interest in exploring opportunities within the Indian Premier League (IPL) beyond its usual focus on digital e-commerce investments. Tiger Global is best known for its early investment in e-commerce giant Flipkart.
According to the report, a Rajasthan Royals spokesperson denied reports of any transaction between Tiger Global and the franchise. Tiger Global, on the other hand, declined to comment on the matter. It is worth noting that in 2021, US-based Redbird Capital acquired shares in Rajasthan Royals through a secondary deal, valuing the franchise at over $250 million.
Additionally, Tiger Global has a track record of investing in notable companies such as Flipkart, Zomato, Ola, and Delhivery. The investor also has a stake in Dream Sports, the parent company of the popular online fantasy gaming platform Dream11.
