Tiger Global Management, a US-based investment firm, has agreed to acquire a majority stake in Rajasthan Royals, an Indian Premier League (IPL) cricket team. The deal is reportedly worth ₹7000 crores (US$925 million).
The deal is still subject to regulatory approvals, but it is expected to be completed in the coming months. Once the deal is completed, Tiger Global will become the majority shareholder in Rajasthan Royals, with the current owners, Emerging Media & Communications, retaining a minority stake.
Tiger Global is a leading global investment firm with over US$100 billion in assets under management. The firm has a strong track record of investing in technology companies, and it is seen as a major coup for Rajasthan Royals to attract its investment.
The deal is expected to help Rajasthan Royals to become more competitive in the IPL. The team has not won the IPL since 2008, but it has been consistently in the top four in recent years. With Tiger Global’s investment, Rajasthan Royals will be able to invest in better players and infrastructure, and it is expected to be a more serious contender for the title in the years to come.
The deal has also been welcomed by the IPL. The league’s chairman, Brijesh Patel, said that it was “a great endorsement of the IPL as a property” and that it “demonstrates the growing interest in the league from global investors”.
The deal between Tiger Global and Rajasthan Royals is a significant development in the IPL. It is the first time that a major global investment firm has acquired a majority stake in an IPL team, and it is seen as a sign of the growing interest in the league from international investors. The deal is also expected to help Rajasthan Royals to become more competitive in the IPL, and it is likely to have a positive impact on the league as a whole.
