RedBird Mulls Selling Stake in IPL Team Rajasthan Royals (1)

RedBird Capital Partners is looking to sell a minority stake in Indian Premier League team Rajasthan Royals, as the private equity firm seeks to cash in on the growing popularity of cricket’s most lucrative competition, people familiar said.

RedBird, founded by former Goldman Sachs executive Gerry Cardinale, reportedly paid $37.5 million for 15% of Rajasthan Royals four years ago, valuing the franchise at $250 million.

The firm is looking to at least double its money with a sale of its stake, said the people, who asked not to be identified discussing private information. Redbird could also end up ...