Tiger Global to invest in Rajasthan Royals at a likely valuation of $650 mn
Tiger Global is in talks to acquire a stake in Indian Premier League’s team Rajasthan Royals, making its foray into one of the biggest sports leagues in the world, The Economic Times (ET) reported on Monday.
It said that the investment firm is likely to invest $40 million in the franchise at a valuation of $650 million. In the sports economy, Tiger Global has already invested in India’s Dream Sports, which owns the fantasy gaming platform Dream 11.
Tiger Global has been in talks with other franchises too, but the deal with Rajasthan Royals is expected to be completed soon. Earlier in 2021, US-based RedBird Capital had also picked a stake in Rajasthan Royals at a valuation of $250 million. It owns a stake in the baseball team Boston Red Sox and football club Liverpool.
IPL has also become one of the biggest sports leagues in the world. In 2022, the IPL franchise was valued at $10.9 billion, up 75 per cent from $6.2 billion in 2020.
