This article was first published on the Benzinga India Portal.
tiger global, A technology-focused investment firm with a brilliant track record in India is reportedly negotiating a deal to acquire a stake in India Indian Premier League‘S Rajasthan Royals franchise, according to a recent report.
What’s up? According to the Economic Times, the New York-based company intends to invest about $40 million in Rajasthan Royals, valuing the franchise at $650 million.
According to sources cited by ET, Tiger Global is close to finalizing the deal. This move represents a significant expansion of their involvement in the Indian sports economy, moving beyond their traditional digital commerce sphere where they became known as early supporters of sports eCommerce Giant, flip card
Potential methods for that capital injection could be either direct or indirect, such as backing one of Rajasthan Royals shareholders, an insider revealed.
Manoj Badalea UK-based businessman, mainly owns Emerging Media, the parent company of Rajasthan Royals. Since acquiring the rights in 2008, he has controlled over 60% of the franchise.
The unnamed sources added that Tiger is actively exploring opportunities within the IPL and working with several other franchises. Although the deal with Rajasthan Royals is not yet officially finalized, it is expected to be finalized soon.
eye of the Tiger: Tiger Global, which established a foothold in India nearly 15 years ago, maintains a significant local presence. His successful internet investments include Flipkart, Ola, ZomatoAnd Delhivery.
In sports, Tiger has a stake in a major online fantasy gaming company dream sportOperation dream 11. In addition, investments were made in the fast-food restaurant chain Wow! momo and tea chain Chaayosdemonstrating its diversification beyond core technology bets.