Lalit Modi is reportedly going to acquire a portion of the well-known Indian Premier League team Rajasthan Royals, according to a shocking report circulating in the media. Notably, Raine Group, an investment banking company, was given the responsibility to handle the process after RR recently put the franchise up for sale.
There are four separate consortiums that have offered their services to Raine Group and these include the following: Aditya Birla Group and David Blitzer; Satyam Gajwani, Chairman of Times Internet; Adar Poonawala; and Kal Somani and Lalit Modi.
Lalit Modi is the creator of Indian premier league (IPL) that is a franchise based league with 20 over format, as I have not heard. He was also the chairman of the Indian premier league before the historic spot-fixing case, and he was linked with Modi as the impostor.
Manoj Badale of Emerging Media Ventures currently owns 65% of the Rajasthan Royals, followed by Red Bird Capitals Partners (15%), Lachlan Murdoch (13%), and a small number of minority stakeholders, including Ian McKinnon, Kal Somani, Simer Mayo, and Mihir Patel.
