In a surprising turn of events, a recent media report has revealed that Lalit Modi is poised to acquire a stake in the well-known Indian Premier League team, the Rajasthan Royals. It’s worth noting that the Royals had recently put the franchise up for sale, with the Raine Group, an investment banking firm, tasked with managing the process. The Raine Group has received bids from four different consortiums, which include: a. Aditya Birla Group and David Blitzer; b. Times Internet Chairman Satyam Gajwani; c. Adar Poonawalla; and d. Kal Somani along with Lalit Modi. Lalit Modi’s IPL Legacy For those who might not know, the IPL is often considered the brainchild of Lalit Modi, who was instrumental in creating the concept of a franchise-based league played in a 20-over format. He also served as the IPL chairman until the notorious spot-fixing scandal emerged, which linked him to the controversy. Currently, the ownership structure of the Rajasthan Royals features Manoj Badale of Emerging Media Ventures holding a significant 65 percent share, while Red Bird Capital Partners owns 15 percent, Lachlan Murdoch has 13 percent, and minority stakeholders like Ian McKinnon, Kal Somani, Simer Mayo, and Mihir Patel hold smaller shares to round out the ownership table. More to come...