Rajasthan Royals is turning into a global brand with investments from Phoenix Suns guard Chris Paul and NFL duo Larry Fitzgerald and Kelvin Beachum.
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The Indian Premier League (IPL) has turned into a major attraction for investors across the globe since its inception. The franchises who have been a part of the lucrative tournament are also benefited through it. Rajasthan Royals, the Jaipur-based franchise, who have been a part of the IPL since 2008 are the recent ones to get investments from NBA and NFL stars to prove the global reach that the biggest T20 league has created over the years.
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Phoenix Suns guard Chris Paul and NFL duo Larry Fitzgerald and Kelvin Beachum have invested in the Rajasthan Royals. The details of the investment is undisclosed although it is understood that the trio will be minor investors which will help the franchise grow manifolds. It also comes as a remarkable achievement for Rajasthan Royals as far as franchise business is concerned.
“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,” said Rajasthan’s lead owner Manoj Badale said in an official statement. Paul is, meanwhile, largely excited on the prospect of the investment. “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 fulfil their course, I see myself contributing world-class experience through this strategic investment.”
Badale, the Emerging media group, own 65 per cent of the stakes at the franchise while Lachlan Murdoch has 15. The owners have acquired majority stakes in the Caribbean Premier League team Barbados Tridents acquired only last year. “I am keenly aware of the popularity of cricket internationally and am thrilled to join the Rajasthan Royals franchise as an investor. I respect the global reach of the IPL and am committed to supporting the Royals,” Arizona Cardinals’ offensive tackle Beachum said.
