Tiger Global, a company based in New York, is expected to put money into the Rajasthan Royals (RR), a team in the Indian Premier League (IPL). At a value of $650 million, it is thought that the investors want to put $40 million into the brand.
Tiger Global is known for giving money to companies like Flipkart, Zomato, Ola, and Delhivery, among others. The company also has a stake in Dream Sports, the biggest source of online fantasy sports, which runs Dream11.
According to a story from the Economic Times, the New York investors first talked with a few other teams in the profitable T20 league. But the deal with the Royals is expected to go through. It is thought that they will put in $40 million, which will bring the total value to $650 million.
Manoj Badale, an entrepreneur from the UK, owns Rajasthan Royals’ parent company, Emerging Media. Since 2008, Manoj Badale has owned more than 60% of the club. In 2021, a US company called RedBird Capital bought shares in the Royals in a secondary deal that put the team’s value at more than $250 million. According to ET, Tiger Global’s investment in the Royals could be either direct or indirect. If it’s indirect, it’s likely that the money will go to one of the owners.
Rajasthan Royals was knocked out of the running for the playoffs.
The Men in Pink, led by Sanju Samson, finished their season in fifth place in the IPL Points Table with 14 points after playing in 14 matches. With a Net Run Rate (NRR) of 0.148, the team won seven games and lost the same number.
On the other hand, the last four teams in the IPL Playoffs are the defending winners, the Gujarat Titans, Lucknow Super Giants, Chennai Super Kings, and Mumbai Indians. On Tuesday, May 23, Qualifier 1 of the playoffs will be played between the reigning champions and MS Dhoni’s Super Kings. On the other hand, Krunal Pandya’s LSG will play the five-time winners in the Eliminator on Wednesday, May 24.