US star athletes Chris Paul, Larry Fitzgerald, and Kelvin Beachum have invested in the Rajasthan Royals.
American football superstar Larry Fitzgerald and Chris Paul, a two-time Olympic gold medalist in basketball, are among the new investors in the IPL franchise, Rajasthan Royals.
The two, along with former NFL player Kelvin Beachum, are now minority investors in the IPL team, which is owned by Manoj Badale’s Emerging Media Ventures.
Royals announced in a press release, US star athletes Chris Paul, Larry Fitzgerald, and Kelvin Beachum have invested in the Rajasthan Royals. The three have joined the Rajasthan-based franchise as investors.
Paul, Fitzgerald, and Beachum will become minority investors in the franchise through Emerging Media Ventures, an entity controlled entirely by Manoj Badale.
Paul, a former president of the NBA Players Association, echoed his sentiments and said that he’s ecstatic to be one of the first American athletes to recognise the IPL’s significance and potential for expansion.
He sees himself contributing world-class experience through this strategic investment, with a number of components, such as stadium experience and fan interaction, still to complete their course.
The IPL has become the most popular franchise-format competition for Twenty20 cricket, the shortest form of the game, and has spawned other similar events around the world.
This year, the world’s most valuable cricket competition has grown to ten teams, with new clubs the Gujarat Titans and Lucknow Super Giants paying a combined $1.6 billion to enter. It has also expanded its horizons to include the United States, which will co-host the T20 World Cup in 2024.
“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,” said Fitzgerald.
Badale, the lead owner, expressed his happiness as he welcomed the US trio as investors in the franchise. He said that they are thrilled to have Chris, Larry, and Kelvin as investors who believe in the Royals’ ambition to become a truly global brand.
After Kolkata Knight Riders and Punjab Kings, Rajasthan became the third franchise to enter the Caribbean Premier League with a majority share in the Barbados Tridents last year.
Published By: Sachin Sonawane