Late Australian spin legend Shane Warne's family is set to make a staggering Rs 450 crore following the sale of Indian Premier League franchise Rajasthan Royals (RR).
On Wednesday, Kal Somani, a US-based tech entrepreneur, emerged as the face of a landmark deal with his consortium on track to acquire Rajasthan Royals for a reported $1.63 billion (approximately Rs 15,290 crore). Earlier a minority shareholder in the franchise, the deal will see Somani's consortium take full control of the 2008 champions.
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Interestingly, the deal will also see Shane Warne's family earn Rs 450 crore. When Warne first signed up with the franchise in 2008, he had got a clause inserted in his contract which earned him 0.75% ownership stake for every year he played for the team. Warne eventually ended up staying with the team for four years, thus earning 3% stake in the franchise. Warne's 3% ownership will now help his family sell the share and take the cash home.
Royal Challengers Bengaluru also saw a change in ownership with a consortium led by Indian billionaire Kumar Mangalam's Aditya Birla Group, The Times of India Group, Blackstone, and David Blitzer's Bolt Ventures buying the franchise for $1.78 billion.
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