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US-based private investment firm RedBird Capital Partners, which has a stake in Liverpool and the Boston Red Sox, has picked up a 15 per cent stake in Rajasthan Royals for an undisclosed amount.
RedBird, which is founded by former Goldman Sachs Partner Gerry Cardinale, announced the stake acquisition in a statement on Thursday.
"The IPL is a dynamic league with a global audience and forward thinking mindset regarding fan and player engagement," Cardinale said in the statement.
RedBird also recently picked up a minority stake in Fenway Sports Group, who own English soccer team Liverpool and baseball's Red Sox, the XFL, and they are also the majority owner of French football team Toulouse.
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