Rajasthan Royals begins play to sell majority stake

Core Insights - Rajasthan Royals is initiating a process to offload a majority stake in the franchise amid strong investor interest in the Indian Premier League (IPL) [1][2] - The IPL ecosystem is valued between $10 billion and $18 billion by various brand valuation firms, with the Rajasthan Royals previously valued at approximately $250 million during a minority stake sale five years ago [1][3] - Raine Group has been engaged to manage the sale process, including outreach to potential buyers and valuation discussions [3] Stakeholder Dynamics - The promoter group of Rajasthan Royals, led by Manoj Badale, is open to considering a majority stake sale, with the size of the stake depending on achieved valuations [3] - Emerging Media, owned by Badale, increased its holding in the franchise from 51% to 65% in 2021, while RedBird Capital Partners acquired a 15% stake for $37.5 million in the same year and is now looking to exit [4] - Fox Corporation's CEO Lachlan Murdoch is among the minority shareholders of the franchise [4] Market Activity - The franchise has received several expressions of interest from potential buyers, although no firm bids have been submitted yet [2] - The valuation of Gujarat Titans, in which Torrent Group recently took a majority stake, was approximately Rs 7,500 crore [1]