Rajasthan Royals appoint new Group CEO

Indian Premier League franchise Rajasthan Royals on Friday announced the appointment of Mike Fordham as its Group Chief Executive Officer.

Fordham has over 16 years experience working with leading sports organisations around the world and was a key part of the IMG team that developed the IPL with BCCI, a media release said.

He also led the development of The Hundred for the England & Wales Cricket Board, it added.

RR also said that its lead investor, Emerging Media IPL Limited (EMIPL), has increased its shareholding to over 50 percent in the IPL franchise.

EMIPL, which is completely owned and controlled by Manoj Badale, has successfully concluded an equity fundraise for this purpose, the release said.

"Investors are now recognising the value of sports franchises. EMIPL's increased ownership of the franchise and expanded network of US-based, value-add investors presents an exciting opportunity to drive the growth of both the Rajasthan Royals and the IPL," Badale said.