MAM
American athletes Chris Paul, Larry Fitzgerald, Kelvin Beachum invest in Rajasthan Royals
Mumbai: The champions of the inaugural edition of the Indian Premier League (IPL) Rajasthan Royals have attracted investment from US athletes basketball player Chris Paul and American football stars Larry Fitzgerald and Kelvin Beachum.
The trio has come on board as minority investors in the Rajasthan-based franchise. They are investing through Emerging Media Ventures, the vehicle controlled by Manoj Badale.
“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 the franchise’s lead owner Manoj Badale, as he welcomed the US trio as investors in the franchise.
In addition, as part of the recent transaction for the Royals to acquire the Barbados Tridents, CMG Companies has joined the Royals ownership group. CMG Companies in the US principal Manish Patel stated, “We are extremely excited about the partnership with the Rajasthan Royals family. We believe this collaboration with the Rajasthan Royals will further advance cricket in Barbados and the region. This is a dream come true for all of us at CMG Companies, a team of Indian-origin entrepreneurs with strong connections to India.”
Paul the franchise noted is one of the greatest defenders to have graced the NBA court with 11 NBA All-Star team appearances, two Olympic Gold medals, and more recently taking the Phoenix Suns to the NBA Finals. Paul’s investment portfolio includes a stake in the minor league baseball team Winston-Salem Dash, and with an eye on enhancing the fan experience in the IPL, the 36-year-old defender has chosen to invest in the Royals. “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,” said Paul, who served as the former National Basketball Players Association president.
The NFL’s wide receiver Larry Fitzgerald, who played with the Arizona Cardinals for 17 seasons and received accolades including 11 Pro Bowl appearances and the Walter Payton NFL Man of the Year in 2016, is also known as a serious investor and philanthropist said the franchise. “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,” expressed Fitzgerald.
Beachum is a 10-year NFL veteran who currently plays for the Arizona Cardinals. In addition to his professional football commitments, he is an active investor, especially in technology, and a board member of NFL Players Association. “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,” he said.
MAM
Filmcity Media CFO Mohit Jain quits; CEO Kirti Vishnu Tiwari takes charge of finance
Board appoints Prabhat Modi as additional director and approves Rs 1.9 crore preferential share issue
MUMBAI: Filmcity Media has reshuffled its top deck. Chief financial officer Mohit Jain has stepped down, prompting the board to hand the finance reins to chief executive Kirti Vishnu Tiwari even as the company lines up fresh capital and new boardroom muscle.
In a regulatory filing to the BSE, Filmcity Media said Jain resigned from the roles of director and chief financial officer with effect from March 11, 2026, to pursue another career opportunity. He ceased to be a key managerial personnel of the company at the close of business on that date.
The board swiftly moved to plug the gap, appointing Kirti Vishnu Tiwari as chief financial officer from March 12, 2026. Tiwari, who already serves as executive director and chief executive, will now hold the combined role of executive director, CEO and CFO, taking charge of the company’s finance function while continuing to lead operations.
The leadership changes were approved by the board following recommendations from the nomination and remuneration committee, with the audit committee also backing Tiwari’s appointment as CFO to ensure governance oversight. Under the arrangement, Tiwari will continue as a key managerial personnel under Section 203 of the Companies Act, 2013.
Filmcity Media also expanded its board, appointing Prabhat Modi as additional director with effect from March 13, 2026, for a term of five years. The appointment, categorised as a non-executive non-independent directorship, will require shareholder approval at the next general meeting.
Modi brings capital market experience to the role. He holds a B.Sc in accounting and finance from the University of Essex in the United Kingdom and a PGDM from the National Institute of Securities Market. His professional experience includes stints at SBI Mutual Fund, BSE India and Morningstar India, where he worked on market research, financial analysis and capital market operations.
Tiwari, meanwhile, brings experience spanning finance, marketing and hospitality. A graduate of Lucknow University, she has previously worked with Hotel Holiday Inn, Hotel Leela Kempenski and Hotel Sea Rock, along with roles at Pawan Hans Helicopter and CBRE South Asia.
Separately, the board also approved a preferential issue of equity shares to members of the promoter and promoter group as well as non-promoter investors. The proposed fundraising, subject to regulatory approvals, is expected to raise up to Rs 1.9 crore.
The company said both appointees meet all regulatory requirements under SEBI regulations and the Companies Act and are not barred by any regulatory authority from holding their positions.
With a new board face, a CEO doubling as CFO and fresh capital on the table, Filmcity Media appears to be tightening its leadership and balance sheet in one swift move.
