This partnership will see the CPL franchise being rebranded as the Barbados Royals. The deal is a strategic step for the Royals Sports Group (RSG) as it expands its portfolio beyond the Rajasthan Royals IPL franchise.
Royals Sports Group (EM Sporting Holdings Ltd), the owners of the Rajasthan Royals IPL franchise, today announced that they have acquired a majority stake in the Barbados Tridents, Caribbean Premier League franchise. The two-time CPL champions will be rebranded as the Barbados Royals, a partner franchise of the Rajasthan Royals, as the Royals Sports Group seeks to expand its global presence.
Royals Sports Group Chairperson, and the Lead Owner of Rajasthan Royals, Manoj Badale, commented “We are delighted to have signed this deal with Manish Patel, to acquire a majority stake in the Barbados CPL franchise. We are extremely grateful to the Barbados government for their continued support, and we look forward to making a positive impact on both cricket and tourism for the country. We have ambitious plans for the Royals brand globally, and this is an important strategic step.”
Rajasthan Royals Director of Cricket, Kumar Sangakkara, whose role now includes the Barbados Royals, added, “Barbados Royals will be an important part of the Royals’ cricket ecosystem. With a fantastic talent pool of local players, we have the opportunity to innovate and develop strategies that will benefit the Royals Group. We are also excited at the prospect of how we can promote growth in the game of cricket.”
Manish Patel, principal of the Barbados Tridents franchise, added, “We are extremely excited about the partnership with Manoj and the Rajasthan Royals family, which will further advance cricket in Barbados and the region.”
Minister of Tourism and International Transport for Barbados, Senator the Hon. Lisa Cummins, celebrated the announcement stating “The Caribbean, and Barbados more specifically in this instance, have long been globally revered for their cricketing prowess, which continues to be one of the strongest pillars of our sports tourism offering. The expansion of our audience through this new partnership will enable us to showcase how we have married this beloved sport with the immersive experiences our destination has to offer, on a much wider scale. We look forward to leveraging the global fanbase Rajasthan Royals brings to the table to tap into new and emerging markets that align with our brand.”
Earlier in June, Rajasthan Royals had announced a groundbreaking collaboration with RedBird Capital Partners, the leading sports-focused investor in the United States. The acquisition of Barbados Tridents is a testament of the continued vision of the team to expand the Royals brand globally.
The Barbados Royals, led by the experienced Jason Holder, are scheduled to start the forthcoming Caribbean Premier League campaign on 26th August 2021 against St Kitts & Nevis Patriots. The final of this season’s Caribbean Premier League will take place on 15th September 2021.
About the Rajasthan Royals
Rajasthan Royals were the champions of the inaugural 2008 season and have recently completed a major shareholding restructure, with Emerging Media, along with new co-investor RedBird Capital Partners, assuming control.
For more information, please go to www.rajasthanroyals.com
About Barbados Royals & CMG Companies
CMG Companies (CMG) is a dynamic business organization led by 6 energetic entrepreneurs who make private equity investments with a focus around multi-unit and franchising. CMG Companies is a group of separate and independent entities with investments in the multi-unit and franchise space primarily in restaurant, hotel, retail, sports, and real estate sectors.
CMG Companies specific franchise sports investments includes the Barbados Tridents (now Royals) where CMG became owners in 2019 and ultimately winning the championship in the very first year of ownership. Prior to that, CMG owned the Jamaica Tallawahs franchise team in the Caribbean Premier League from 2014, a championship in 2016, and successful exit in 2017.