American NFL legend Larry Fitzgerald, double Olympic gold medallist NBA basketball star Chris Paul, and NFL star Kelvin Beachum have invested in the Indian Premier League (IPL) franchise Rajasthan Royals (RR).
They are the minority investors in the Rajasthan Royals (RR) franchise, which is owned by Emerging Media Ventures, an entity that is fully controlled by Manoj Badale. The franchise announced the same in a statement without sharing details of their investment.
RR announced in a press release: “Rajasthan Royals have attracted investment from US elite athletes Chris Paul, Larry Fitzgerald, and Kelvin Beachum. The trio has come on board as investors in the Rajasthan-based franchise. Investing through Emerging Media Ventures, the vehicle 100% controlled by Manoj Badale, Paul, Fitzgerald, and Beachum will become minority investors in the franchise.”
Welcoming the trio as investors, RR owner Manoj Badale said: “We are extremely pleased to have Chris, Larry and Kelvin join us as investors who have seen the vision of the Royals as a truly global brand.”
Meanwhile, Larry Fitzgerald stated: “I love the idea of building a professional franchise with a clear social purpose and look forward to working with this team to challenge the realms of possibility by expanding to new horizons as a franchise. India has a passionate sports culture and I’m excited to invest in one of the most sought-after teams in the country.”
On the other hand, Chris Paul said: “I am excited to have become one of the first US athletes to see the value and scope for growth in the IPL. With a variety of components, including stadium experience and fan engagement still left to fulfill their course, I see myself contributing world-class experience through this strategic investment.”
Notably, RR owners acquired a majority stake in the Caribbean Premier League (CPL) team Barbados Tridents last year, while CMG Companies has joined the Royals' ownership group.
(With PTI Inputs)