RedBird Capital Partners, a private investment firm, has acquired 15 percent stake in the Indian Premier League (IPL) outfit Rajasthan Royals (RR).
RedBird Capital Partners has interests in the parent company of Liverpool and the Boston Red Sox.
As per the deal, RedBird will acquire a minority stake in the franchise.
“The IPL is a dynamic league with a global audience and forward-thinking mindset regarding fan and player engagement,” said Gerry Cardinale, Founder and Managing Partner of RedBird, in an official release posted by Rajasthan Royals.
Ranjit Barthakur, Chairman of the Rajasthan Royals, said: “We are tremendously proud to announce this extra investment from our long-standing investor, Emerging Media, and to establish a ground-breaking collaboration with our new partner RedBird.”
Royals had won the inaugural edition of the IPL in 2008 under the leadership of Shane Warne.