Rajasthan Royals Owners Likely To Sell Off Major Stakes

Indian Premier League (IPL) franchise Rajasthan Royals is likely to sell half of their stakes to give the franchises a much-needed boost ahead of the upcoming season. Meanwhile, as per reports, the franchise officials have approached top BCCI officials and have intimated their decision. Manoj Badale is the principal owner of the Royals.

Rajasthan Royals have a rich history in this cash-rich T20 league as they won the inaugural edition of the competition under the leadership of Shane Warne. They also finished as the runners up in the 2013 Champions League Twenty20 under Rahul Dravid. However, their great run in the league came to a standstill when BCCI suspended them for two years over match-fixing and corruption charges. In the 2018 edition of the IPL, Rajasthan Royals made an impressive comeback reaching the playoffs.

However, ahead of another exciting season, they have decided to revamp their ownership to reinforce their finances.

“Yes, Rajasthan Royals are selling a major part of their stakes and the highest bidder will be getting it. What we have heard is that it is around fifty percent and some of the biggest business houses in the country are apparently interested in buying stakes,” a senior BCCI official privy to the development told PTI on conditions of anonymity.

Goenka interested to buy stakes

Former IPL franchise Rising Pune Supergiants’ owner Sanjeev Goenka is keen on buying stakes although there is no official confirmation on it. Another big industrialist based out of western Indian with multiple business interests is also in the mix. Goenka, who is the principal owner of the ISL franchise ATK, also bought the Rising Pune Supergiant for the two seasons.

“Mr Goenka has always been interested in coming back after he had a fairly good but short stint in the IPL. His team made it to the finals in one of the years. Let’s wait and watch how it all pans out,” the official said.