Mannoj Kumar Jain May Acquire Rajasthan Royals For $200Mn
by Irfan Khan
Kolkata based Mannoj Kumar Jain may acquire upto 90% stake in Jaipur IPL Cricket Pvt Ltd- the holding company Rajasthan Royals franchisee. for around $200Mn, valuing the IPL-I champions at $222Mn.
The $222Mn valuation seems to be at the lower side when compared to $370Mn paid by the Sahara Group for the Pune Franchise in 2010, however it could still mean a tidy profit for the original promoters, who bought the franchisee rights for a total of $67Mn.
The deal needs approval from BCCI for completion as there are pending legal and regulatory issues against the team owners.