Cricket

Rajasthan Royals owners to sell off fifty percent stake to boost financial power before start of IPL 2019

  • Press Trust of India
  • January 17th, 2019
  • 19:00:36 IST

New Delhi: Indian Premier League franchise Rajasthan Royals' owners are all set to sell half of their stakes in order to give it a much needed financial boost ahead of the 12th edition of Indian Premier League.

It has been learnt that the current franchise owners has approached key BCCI officials and intimated their decision to sell around fifty percent of their stakes. Manoj Badale is the principal owner of Rajasthan Royals.

File image of Rajasthan Royals' Sanju Samson. Image Courtesy: SportsPicz

File image of Rajasthan Royals' Sanju Samson. Image Courtesy: SportsPicz

"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.

While there are no confirmations as of now but a former IPL franchise Rising Pune Supergiants' owner Sanjeev Goenka is keen on buying stakes. Goenka was however not available for any comments.

Another big industrialist based out of western Indian with multiple business interests is also in the mix.

Goenka, who is also the principal owner of Indian Super League (ISL) team ATK, had bought the Pune franchise (Rising Pune Supergiants) for the two seasons when Rajatshan Royals and Chennai Super Kings were banned for their involvement in spot-fixing scandal.

"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.

Royals have been the champions of the first edition of Indian Premier League back in 2008 under the stewardship of the legendary Shane Warne.

Their reputation however took a beating back in 2013 when three cricketers S Sreesanth, Ankeet Chavan and Ajit Chandila were arrested on charges of spot-fixing and the franchise being subsequently banned for two years by the Supreme Court appointed committee.

Updated Date: January 17, 2019 19:00:36 IST

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

IPL: RPSG Group’s Sanjiv Goenka expects valuation of newly-acquired Lucknow team to go up in future
First Cricket News

IPL: RPSG Group’s Sanjiv Goenka expects valuation of newly-acquired Lucknow team to go up in future

The Goenka-owned RPSG Group became the highest bidder, while CVC Capital pipped Adani Group to win the bid for Ahmedabad with Rs 5,600 crore offer.

AB de Villiers says Virat Kohli had 'much bigger impact than he'll ever understand' as RCB skipper
First Cricket News

AB de Villiers says Virat Kohli had 'much bigger impact than he'll ever understand' as RCB skipper

Since taking over as RCB's captain in 2013, Kohli has led the team to the playoffs four times, including the last two seasons, and the final in 2016.

BCCI expecting two new IPL teams to go for Rs 7-10K crore with Adani, Goenka, Aurobindo in fray
First Cricket News

BCCI expecting two new IPL teams to go for Rs 7-10K crore with Adani, Goenka, Aurobindo in fray

It is still not clear whether the BCCI will announce the successful bidders on Monday itself after doing the technical evaluation of the bids.