Rajasthan Royals draw interest in early ownership talks
Krafton is discussing a minority stake, while Adani has been approached about buying control of the IPL franchise
Krafton India is in early discussions to acquire a minority stake in the Rajasthan Royals, according to four people familiar with the matter. Meanwhile, the Adani Group has been approached about taking a majority stake or potentially buying the Indian Premier League (IPL) franchise outright. If Krafton proceeds, it would be the first gaming company to own part of an IPL franchise.
A gaming publisher has never taken equity in a traditional sports franchise before. Krafton would be the first to test that frontier.
The South Korean game developer and publisher behind Battlegrounds Mobile India (BGMI) is negotiating a secondary purchase from an investor in the Manoj Badale-led consortium. Valuation work has begun, though the stake size and price have not been agreed.
A Krafton India spokesperson said reports linking the company to IPL investments were “completely and utterly speculative,” adding that while Krafton evaluates multiple partnerships, “it is extremely premature to link them to any specific outcomes.” The four people cited earlier said the discussions are active but early. Rajasthan Royals (RR) did not respond to requests for comment.
Separately, talks involving Adani are also at an early stage. Two people familiar with the matter said it is unclear who initiated contact, and the Royals have not indicated whether they intend to consider a sale. An Adani Group spokesperson did not respond to requests for comment.
Rajasthan Royals have lost their CEO, head coach, and captain within months, while one long-standing investor has been seeking an exit. The team operates through a fund-like structure, with a general partner (GP) managing several limited partners (LPs), making a sale harder to negotiate. People familiar with the matter said the franchise would prefer a strategic minority investor such as Krafton to a controlling buyer.
