Meet The Owner Of RR In IPL 2024: Unveiling Net Worth And More
Rajasthan Royals Owner 2024: The Indian Premier League (IPL) stands as one of the world's most prominent cricket tournaments, attracting millions of viewers globally. Featuring fast-paced T20 cricket matches, the IPL is renowned for its entertainment value. With ten teams representing various Indian states and cities, fans passionately support their favourites, turning them into household names.
In the exciting tale of IPL 2024, the Rajasthan Royals have clinched their place in the playoffs by securing the 3rd spot on the IPL 2024 points table. They are the second team to do so after the Kolkata Knight Riders (KKR).
The Rajasthan Royals are one of the most famous IPL teams. They won the first IPL in 2008 and have many fans in North India, especially in Rajasthan. However, the team and its owners have faced controversy as well. Read on to learn more about the Rajasthan Royals and their owners.
IPL 2024: Rajasthan Royals (RR) Owner
The Rajasthan Royals, based in Jaipur, are one of the most popular and beloved teams in the IPL. They won the inaugural IPL season in 2008, which brought them significant recognition. However, they haven't won another title since. Interestingly, the Rajasthan Royals were the cheapest team of the eight franchises bought in the 2008 IPL, with Emerging Media purchasing them for $67 million. Since then, their fan base has grown steadily, despite some major scandals that have tarnished their reputation.
Emerging Media was the initial majority owner of the Rajasthan Royals, but the team faced ownership controversies as early as 2010. There were issues regarding a silent shareholder who held a significant portion of the team, and allegations of fake bids during the auction, all of which violated BCCI rules and regulations. In 2015, businessman Raj Kundra and actress Shilpa Shetty bought stakes in the team. However, their involvement led to a betting and match-fixing scandal, resulting in a two-year ban for the Rajasthan Royals and other teams.
Currently, the Rajasthan Royals are the 10th most valuable franchise in the Indian Premier League, with a value of $1 billion. Manoj Badale, the owner of Emerging Media, holds a 65% stake in the team. Lachlan Murdoch and RedBird Capital are minority stakeholders, and Shane Warne also owned a 3% stake in the team.
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Who is the current owner of the Rajasthan Royals?
Manoj Badale's role as the owner of the Rajasthan Royals extends far beyond traditional team ownership. His strategic vision, business expertise, and dedication to innovation have not only influenced the franchise's success on the field but have also established the team as a leader in responsible ownership within the cricketing community. As the IPL continues to develop, Badale's contributions are poised to leave a lasting impact on Indian cricket.
Business Ventures
Before venturing into cricket ownership, Badale had already left a mark in the business world. Co-founding the investment firm Blenheim Chalcot in 1998, he focused on identifying and nurturing innovative businesses. His business acumen earned him a reputation as a forward-thinking entrepreneur, which influenced his approach to owning and managing the Rajasthan Royals.
Blenheim Chalcot, the investment firm, prioritises creating an atmosphere conducive to growth, fostering collaboration and innovation among its ventures.
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Manoj Badale’s Entry into Cricket
Badale's foray into cricket began when he, alongside other investors, acquired the franchise rights for the Rajasthan Royals in the inaugural season of the IPL in 2008. Under Badale's ownership, the team made headlines by winning the championship in their debut season, surpassing all expectations.
Manoj Badale’s Net Worth Details
Reports suggest that Manoj Badale had a net worth of Rs 1330 crore (USD 160 million) in 2023. As the owner of the Rajasthan Royals through his firm, Emerging Media IPL Ltd, he holds a 65% stake in the team. Over time, Badale increased his ownership stake in the team, significantly contributing to his net worth.
In addition to his cricket ventures, Badale serves as the chairman of the British Asian Trust, a charity organization established in 2007. In recognition of his contributions to the economy and charity work, he was awarded the Officer of the Order of the British Empire (OBE) on June 9, 2018.
Rajasthan Royals (RR) Owner History 2024
Rajasthan Royals, a renowned franchise of the Indian Premier League, is headquartered in Jaipur, Rajasthan, India. RR made its IPL debut in 2008, securing victory in its inaugural season. Initially, the franchise was the most affordable among the original eight teams, purchased by Emerging Media for $67 million.
RR enjoyed considerable popularity and favoritism until a significant scandal tarnished its reputation. Following this, businessman Raj Kundra and Bollywood actress Shilpa Shetty acquired a stake in RR, becoming joint owners. However, in 2015, Kundra was banned for life due to his involvement in a betting scandal, leading to RR's suspension for two years.
The ownership of RR has been mired in controversy, with issues emerging as early as 2010 when it was revealed that undisclosed shareholders held a considerable stake in the franchise, and fictitious bids were made, breaching BCCI norms.
Currently, Manoj Badale's Emerging Media holds a majority stake of 65% in RR, with Lachlan Murdoch and RedBird Capital serving as minority stakeholders. Additionally, former cricketer Shane Warne owned a 3% stake in RR.
As of 2022, Rajasthan Royals ranks as the tenth most valuable IPL team, boasting an estimated value of $1 billion.
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Rajasthan Royals 2024: FAQs
Who owns Rajasthan Royals now?
The Rajasthan Royals (RR) franchise is owned by Manoj Badale, Lachlan Murdoch, and RedBird Capital Partners. Badale’s company, Emerging Media IPL Ltd, holds a 65% stake in the team.
Who is the Rajasthan Royals CEO?
Jake Lush McCrum is the CEO of the Rajasthan Royals.
Who is the new owner of the Rajasthan Royals?
Manoj Badale the owner of Emerging media is also the owner of Rajasthan Royals. He alone has a 65% stake in the team.
What is the net worth of the owner of Rajasthan Royals?
Reports indicate that Manoj Badale had a net worth of Rs 1330 crore (USD 160 million) in 2023.
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