RAJASTHAN ROYALS could reportedly be sold for as much as $1.7 billion, significantly exceeding earlier market expectations.
While initial indications suggested the franchise was exploring the sale of a majority stake, it is now understood that the owners are open to a full sale.
Manoj Badale’s Emerging Media IPL Ltd currently holds the largest share in the franchise with a 65 per cent stake. The remaining ownership is distributed between RedBird Capital Partners (15 per cent) and Lachlan Murdoch (13 per cent), with individual investors accounting for the remaining 7 per cent.
Earlier discussions had valued the franchise between $1.1 billion and $1.3 billion. However, recent developments indicate that late-stage bidding activity has pushed the potential valuation to around $1.7 billion.
The sale process is being managed by The Raine Group, which previously oversaw franchise sales in The Hundred and also handled the high-profile sales of Manchester United and Chelsea FC.
Among the key interested parties are the Aditya Birla Group, which is reportedly partnering with investor David Blitzer, as well as members of the ArcelorMittal promoter family, who are evaluating a strategic entry into the Indian Premier League ecosystem.
Kal Somani, a US-based entrepreneur who already holds a minority stake in Rajasthan Royals, is also believed to be part of the bidding process. He has reportedly teamed up with Rob Walton, the eldest son of Sam Walton, founder of Walmart. Reports further suggest that former IPL chairman Lalit Modi may have joined Somani’s group to strengthen their bidding consortium.
Similar to the sale process for Royal Challengers Bengaluru, the Royals have set a deadline for the submission of binding bids, although a final date for completing the deal has not yet been confirmed. With bids reportedly exceeding initial expectations, the transaction could be finalised sooner than anticipated.
