Redbird Capital Partners has acquired a 15 per cent stake in the Indian Premier League franchise Rajasthan Royals.
Redbird Capital Partners has also invested in the company that owns the legendary football club and Liverpool’s baseball team Boston Red Sox.
The amount of the transaction signed with Royals has been disclosed and it is 250 million US Dollars.
Emerging Media, owned by Manoj Badale, owns most of the shares of the Rajasthan Royals team. The team won the first IPL tournament in 2008.
According to the data released from the website of the Double R franchise, it says this agreement will hold a 15 per cent stake in the Red Bird Royals and Emerging Media.
And now they will also increase its share from 51 to 65 per cent. Bader said the contract reflects the world level of this cash-rich league tournament.