NBA star Chris Paul, American football players Larry Fitzgerald and Kelvin Beachum will be minority investors in the Rajasthan Royals
Phoenix Suns’ Chris Paul has invested in Indian Premier League side Rajasthan Royal. (AFP)
American basketball star Chris Paul and American footballers Larry Fitzgerald and Kelvin Beachum have invested in Indian Premier League side Rajasthan Royals, the franchise announced on Sunday.
The world’s most valuable cricket tournament has expanded to 10 teams this year with new franchises Gujarat Titans and Lucknow Super Giants paying over $1.6 billion combined to enter.
The three American athletes will be minority investors in the Royals, who won the inaugural Twenty20 tournament in 2008 under the management of the late Australian legend Shane Warne.
Financial details were not disclosed.
“We are extremely pleased to have Chris, Larry and Kelvin join us as investors who have seen the Royals’ vision as a truly global brand,” said Manoj Badale, principal owner of Rajasthan.
The IPL has become the most popular franchise-format league for Twenty20, the shortest form of cricket, and has spawned many similar tournaments elsewhere.
It has also spread its wings to the United States, which will co-host the 2024 T20 World Cup.
“I am thrilled to have become one of the first American athletes to see the value and growth opportunity of the IPL,” the statement from Rajasthan quoted basketball star Paul as saying.
Paul, 36, who recently took the Phoenix Suns to the NBA Finals, already owns a stake in minor league baseball team Winston-Salem Dash.
Last year, Rajasthan became the third team – after Kolkata Knight Riders and Punjab Kings – to enter the Caribbean Premier League with a majority stake in their Barbados Tridents side.