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.
