RPSG takes controlling stake in Royals: Report

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MUMBAI: This is interesting. Reports which first surfaced in June that industrialist Sanjiv Goenka was in talks with the management of Indian Premier League franchise Rajasthan Royals for a controlling stake appear to have fructified.  

DNA reports that the RP-Sanjiv Goenka Group, which ran the Pune Super Giant team for two editions of the IPL, has bought a controlling stake in Jaipur-based RR, ahead of its return to world cricket's richest annual property after serving out a two-year suspension along with N Srinivasan's Chennai Super Kings.

DNA further reports that Royals' purchase cost Goenka approximately Rs10 billion. 

In a related development, Royals' request for a change in name has reportedly been approved by the IPL governing council.

"The dropping of word Rajasthan from the team's name had already been approved by GC. The team's name now is just Royals," a GC member informed the daily.