Who owns the Rajasthan Royals IPL Team [2025]?

The Rajasthan Royals (RR), one of the most iconic franchises in the Indian Premier League (IPL), have captivated cricket fans since their inception in 2008. Known for their underdog triumph in the inaugural IPL season and their knack for nurturing young talent, the Royals have built a massive fanbase, particularly in North India. However, the team’s ownership structure has often been a topic of intrigue, marked by controversies, changes, and a diverse group of stakeholders. As of 2025, the Rajasthan Royals are primarily owned by the Royals Sports Group, with Manoj Badale holding the majority stake through Emerging Media IPL Ltd. This article delves into the ownership details, history, key figures, and the team’s journey in the IPL, providing a comprehensive and SEO-friendly overview.

Current Ownership Structure of Rajasthan Royals (2025)

As of 2025, the Rajasthan Royals are owned by a consortium led by the Royals Sports Group, with Emerging Media IPL Ltd., spearheaded by Manoj Badale, holding a commanding 65% stake in the franchise. Key minority stakeholders include Lachlan Murdoch, a prominent media mogul, and RedBird Capital Partners, a New York-based investment firm. This diverse ownership structure reflects the global appeal of the IPL and the Royals’ ambition to expand their brand beyond cricket.

Manoj Badale: The Lead Owner

Manoj Badale, a British-Indian businessman and venture capitalist, is the central figure in the Royals’ ownership. Born on December 31, 1967, in Dhule, Maharashtra, Badale has been associated with the Rajasthan Royals since the team’s inception in 2008. Through his company, Emerging Media IPL Ltd., he acquired the Jaipur-based franchise for $67 million, making it the least expensive team in the inaugural IPL auction.

Badale is the co-founder and managing partner of Blenheim Chalcot, a London-based venture builder firm specializing in technology and financial services startups. His business acumen and strategic vision have been instrumental in shaping the Royals’ identity, both on and off the field. With a net worth estimated at $160 million (approximately ₹1330 crore) in 2023, Badale’s leadership extends beyond ownership to community engagement and sports integrity. In 2018, he was awarded the Officer of the Order of the British Empire (OBE) for his contributions to the economy and philanthropy, including his role as chairman of the British Asian Trust.

Under Badale’s stewardship, the Royals have emphasized nurturing young talent, adopting a “Moneyball” strategy that focuses on cost-effective player acquisitions and developing uncapped players. This approach led to the discovery of stars like Sanju Samson, Yusuf Pathan, and Ravindra Jadeja. Badale’s decisions, from team selection to auction strategies, have helped maintain the Royals’ competitive edge and fanbase despite challenges.

Lachlan Murdoch: A Media Mogul’s Stake

Lachlan Murdoch, an Australian businessman and media heir, is a significant minority stakeholder in the Rajasthan Royals. As the executive chairman and CEO of Fox Corporation and chairman of News Corp, Murdoch brings substantial financial and media influence to the franchise. His net worth is estimated at $3.35 billion, underscoring his status as one of the wealthiest IPL team stakeholders. Murdoch’s involvement, through his investment firm Illyria Pty Ltd., enhances the Royals’ global visibility and aligns with their innovative approach to branding and digital engagement.

RedBird Capital Partners: The Investment Powerhouse

RedBird Capital Partners, founded by Gerry Cardinale in 2014, holds a 15% stake in the Rajasthan Royals. Based in New York, RedBird is a prominent investment firm managing assets exceeding $10 billion as of 2022. The firm’s portfolio spans sports, entertainment, and technology, including stakes in the Boston Red Sox and AC Milan. RedBird’s entry into the Royals’ ownership in 2021 brought financial stability and expertise in sports management, enabling the franchise to expand its global ventures, such as the Paarl Royals in South Africa’s SA20 league and the Barbados Royals in the Caribbean Premier League.

Other Stakeholders

Suresh Chellaram, a business tycoon, is also an investor in the Royals, though his stake is smaller compared to the primary stakeholders. Additionally, the late Shane Warne, the legendary Australian cricketer and inaugural captain of the Royals, held a 3% stake earned during his tenure with the team (0.75% per year). While Warne’s stake was notable, it is unclear how it has been managed following his passing in 2022.

Historical Ownership and Controversies

The Rajasthan Royals’ ownership journey has been far from smooth, marked by controversies that tested the franchise’s resilience. Understanding this history provides context for the current ownership structure.

Early Ownership (2008–2010)

When the IPL was launched in 2007, Emerging Media, led by Manoj Badale, secured the Rajasthan Royals franchise for $67 million, the lowest bid among the eight original teams. The franchise’s early success, including the 2008 IPL title under Shane Warne’s captaincy, was a testament to Badale’s vision of building a competitive team on a modest budget. However, ownership controversies emerged as early as 2010.

In 2010, the Board of Control for Cricket in India (BCCI) raised concerns about undisclosed shareholders holding significant stakes in the Royals and allegations of fictitious bids during player auctions, violating BCCI norms. Ranjit Barthakur and Fraser Castellino were revealed as the only two shareholders at the time, a fact unknown to the BCCI, leading to a brief expulsion of the Royals from the IPL. The Bombay High Court intervened, allowing the team to remain in the league while legal proceedings continued. An out-of-court settlement resolved the issue, but the controversy damaged the franchise’s reputation.

Raj Kundra and Shilpa Shetty Era (2009–2015)

In 2009, Bollywood actress Shilpa Shetty and businessman Raj Kundra acquired an 11.7% stake in the Rajasthan Royals, becoming co-owners. Their involvement brought glamour and increased visibility to the franchise, with Shetty featuring in the team’s iconic “Halla Bol” anthem. However, their tenure was marred by a major scandal in 2013.

In 2013, three Royals players—Sreesanth, Ankit Chavan, and Ajit Chandila—were arrested for spot-fixing, tarnishing the team’s image. Investigations revealed Raj Kundra’s involvement in illegal betting, leading to a lifetime ban from the IPL by the Supreme Court-appointed Lodha Committee. The Rajasthan Royals, along with Chennai Super Kings, were suspended for two years (2016–2017) for their role in the betting scandal. Shetty and Kundra sold their entire stake in 2015, severing ties with the franchise. As of 2025, neither has any association with the Royals, despite some public misconceptions.

Post-Suspension Stability (2018–Present)

After returning to the IPL in 2018, the Royals underwent a restructuring under Badale’s leadership. In 2021, Badale increased his stake to 65%, and RedBird Capital Partners joined as a minority stakeholder, bringing much-needed stability. The franchise’s valuation reached $1 billion by 2022, making it the tenth most valuable IPL team. The current ownership group, including Badale, Murdoch, and RedBird, has focused on expanding the Royals’ global footprint through sister teams and innovative initiatives like the RR Academy in New Jersey and the Royals School of Business.

Rajasthan Royals’ Achievements and Ownership Impact

The Rajasthan Royals’ ownership has played a pivotal role in shaping the team’s identity and success. Their 2008 IPL victory, led by Shane Warne, remains a defining moment, proving that strategic planning and belief in young talent can triumph over star-studded lineups. Despite only reaching the playoffs five times since 2008 (2013, 2015, 2018, 2022, and 2024), the Royals have consistently produced standout performers like Jos Buttler (Orange Cap winner in 2022) and Yuzvendra Chahal (Purple Cap winner in 2022).

Off the field, the ownership’s commitment to innovation and social impact has set the Royals apart. Initiatives like the “Green Yodha” carbon-neutral match in 2022 and the “Cancer Out” campaign with Tata Trusts highlight their focus on sustainability and community engagement. The Royals’ digital pioneering—being the first IPL team to launch a YouTube channel in 2008 and an electronic tablet in 2013—reflects Badale’s tech-driven approach.

Key Figures in Royals’ Management (2025)

Beyond ownership, the Royals’ management team includes key figures who contribute to the franchise’s operations:

• Chairman: Ranjit Barthakur
• CEO: Jake Lush McCrum
• Director of Cricket: Kumar Sangakkara
• Head Coach: Rahul Dravid
• Captain: Sanju Samson

These individuals, alongside the ownership group, drive the Royals’ strategic and on-field decisions, ensuring alignment with the franchise’s vision of competitiveness and innovation.

Conclusion

The Rajasthan Royals’ ownership in 2025 is a blend of business acumen, media influence, and investment expertise, led by Manoj Badale’s Emerging Media IPL Ltd. with a 65% stake, alongside minority stakeholders Lachlan Murdoch and RedBird Capital Partners. Despite a tumultuous history involving controversies and suspensions, the Royals have emerged as a resilient franchise with a $1 billion valuation and a global presence. Badale’s strategic leadership, coupled with the support of Murdoch and RedBird, has positioned the Royals as a leader in nurturing talent and driving innovation in the IPL. As the team prepares for IPL 2025, fans can expect the Royals to continue their legacy of competitive spirit and transformative initiatives, both on and off the field.

For the latest updates on the Rajasthan Royals and their ownership, visit rajasthanroyals.com or follow their official social media channels.