The Rajasthan Royals cricket franchise has been sold to a consortium led by businessman Sanjiv Goenka for an undisclosed amount, marking a significant shift in ownership. The sale comes as the franchise continues to navigate the legacy and controversies surrounding its former chairman, Lalit Modi.

“Today marks a new chapter for the Rajasthan Royals, with a commitment to excellence on and off the field,” said Goenka at a press conference announcing the sale. The new owners aim to revitalize the team’s performance and enhance its brand appeal globally.

The franchise, one of the original teams in the Indian Premier League (IPL), has faced challenges linked to Modi, who was instrumental in its establishment but faced allegations of financial mismanagement and other controversies. Modi has been living in self-imposed exile since 2010 after the Board of Control for Cricket in India (BCCI) suspended him over these issues.

The Rajasthan Royals have struggled on the field in recent seasons, prompting significant changes in management and player personnel. The new ownership is expected to implement strategic changes aimed at improving the team’s competitive edge.

Founded in 2008, the Rajasthan Royals have won the IPL title once, in its inaugural season, but have not reached the playoffs consistently in recent years. The franchise’s history has been marked by ups and downs, especially amid the ongoing scrutiny related to Modi’s past.

The sale of the Rajasthan Royals reflects the broader landscape of cricket in India, where ownership changes are not uncommon in the highly lucrative IPL. It remains to be seen how this transition will affect the franchise’s future prospects.

Source: news source