Last Updated on 4 years ago by Charbel Coorey
Cricket News: NBA star Chris Paul & NFL legend Larry Fitzgerald invest in the Rajasthan Royals | Chris Paul, Larry Fitzgerald and Kelvin Beachum invest in RR
NBA star Chris Paul, NFL legend Larry Fitzgerald and NFL star Kelvin Beachum have dipped their toe in the world of cricket. The trio are the newest investers in IPL franchise Rajasthan Royals, the inaugural winners of the showpiece tournament.
Paul, Fitzgerald and Beachum will become minority investors in the Royals franchise through Emerging Media Ventures, the vehicle 100% controlled by Manoj Badale. Rajasthan Royals, who own the Barbados Royals, spoke in a press release of their excitement about the partnership.
“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,” said the Rajasthan Royals in a press release.
“Excited to have become one of the first US athletes to see the value and scope for growth in the IPL” – NBA star and Royals investor Chris Paul
Chris Paul, one of the greatest defenders to have graced the NBA with 11 NBA All-Star team appearances, two Olympic Gold medals, and more recently taking the Phoenix Suns to the NBA Final, said he is excited to become one of the first USA athletes to invest in the IPL.
“I am excited to have become one of the first US athletes to see the value and scope for growth in the IPL,” said Paul. “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.”
NFL legend Larry Fitzgerald mirrored Paul’s enthusiasm, stating his admiration for India’s sporting culture. Fitzgerald, who is known as a serious investor and philanthropist, played with the Arizona Cardinals for 17 seasons and received countless accolades including 11 Pro Bowl appearances and the Walter Payton NFL Man of the Year in 2016.
“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,” said Fitzgerald.
Kelvin Beachum is a 10-year NFL veteran who currently plays for the Arizona Cardinals. An active investor, especially in technology, and a board member at NFL Players Association, Beachum sees the potential of cricket on an international scale.
“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.”
The eyewatering value of the Indian Premier League continues to grow
“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 Manoj Badale, the lead owner, as he welcomed the US trio as investors in the franchise.
Speaking of brands, the Indian Premier League (IPL) has continued to attract huge viewership from across the globe. The recent addition of the two new teams – Lucknow Super Kings and Gujarat Titans – that were sold for a cumulative US$1.7bn highlights this. Also, the league sold all of its sponsorship slots for the first time, including Aramco, the world’s second-most valuable company behind Apple, for the IPL Orange and Purple Caps.
