- Investment would value team at US$650m, reports The Economic Times
- Royals valued by Forbes at US$1bn last year
Indian Premier League (IPL) franchise the Rajasthan Royals are the subject of investment interest from Tiger Global Management, according to a report by The Economic Times.
The New York-based private equity firm is reported to be in ‘advanced talks’ with the team’s owners, Emerging Media Ventures Ltd, over a US$40 million investment which would value the Royals at roughly US$650 million.
The Royals, one of the founding members of the IPL who won the inaugural edition in 2008, were valued by Forbes at US$1 billion last year.
Private equity interest in the IPL has grown in recent years owing to the league’s surging popularity and billion-dollar media rights deals.
CVC Capital Partners, a prominent investor in various sports, owns the Gujarat Titans after paying about US$736 million to acquire the team outright in 2021. Earlier that year, RedBird Capital Partners purchased a 15 per cent stake in the Royals in a deal that reportedly valued the team at around US$250 million.
Tiger Global Management, whose investments span the global software, consumer and financial technology industries, has previously invested in sports businesses, including Mojo – a startup aiming to become a ‘stock market’ for professional athletes – and StockX, an online marketplace for sportswear and other products.