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The majority-owner of the Rajasthan Royals Indian cricket franchise has struck a deal to sell a stake at a $650m valuation, underlining the surge in investor interest in the sport’s newest formats.

Sky News has learnt that Emerging Media Ventures (EMV) is raising $80m from the sale of shares to US-based fund Footpath Ventures.

Heritage Advisors, a family office, and Tiger Global, the prominent American hedge fund, are investing an unspecified additional sum, according to insiders.

The new shareholders will gain exposure to the Royals, one of the Indian Premier League (IPL) franchises benefiting from booming international audiences.

One source said the deal with EMV, which also owns other sports and media assets, implied an overall valuation for the Rajasthan Royals franchise of about $800m.

Joe Root, the former England Test captain, was part of the Royals’ 2023 IPL squad this year, although he has opted not to play in next year’s tournament.

Jos Buttler, the current one-day England skipper, also played for the team, which finished in fifth place out of the ten competing franchises.

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England's Jos Buttler bats during the T20 World Cup cricket semifinal between England and India in Adelaide, Australia, Thursday, Nov. 10, 2022. (AP Photo/James Elsby)
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England’s ODI captain Jos Buttler is due to play for RR in the coming IPL

In 2022, the Royals finished as runners-up behind the Gujarat Titans.

EMV is managed by Blenheim Chalcot, a London-based venture builder which is a shareholder in tech companies such as Liberis, SalaryFinance and Modulr.

It was also the creator of ClearScore, the prominent credit-scoring business.

Manoj Badale, the Blenheim Chalcot founder, owns a stake in EMV alongside RedBird Capital, the US-based owner of AC Milan, and media executive Lachlan Murdoch.

The Royals’ rising valuation reflects a slick marketing operation which has fuelled international television audiences and attendances at IPL matches in recent years.

In June 2022, the competition’s media rights were sold for more than $6bn, underlining its status as the most lucrative in global cricket.

Among the broadcasters which paid for the rights were Walt Disney-owned Star India and Viacom18, which is backed by the Indian billionaire Mukesh Ambani.

In the UK, the IPL was broadcast this year by Sky Sports – which is part of the same company as Sky News – and DAZN, the streaming platform.

EMV did not respond to a request for comment.

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Ukraine war: Russia launches drone strike on Kyiv – as commander ‘sacked for lying about war progress’

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Ukraine war: Russia launches drone strike on Kyiv - as commander 'sacked for lying about war progress'

Russia launched a large drone attack on Kyiv overnight, with Volodymyr Zelenskyy warning the attack shows his capital needs better air defences.

Ukraine’s air defence units shot down 50 of 73 Russian drones launched, with no immediate reports of damage or injuries as a result of the attacks.

Russia has used more than 800 guided aerial bombs and around 460 attack drones in the past week.

Warning that Ukraine needs to improve its air defences, Ukrainian President Volodymyr Zelenskyy said: “An air alert has been sounded almost daily across Ukraine this week”.

“Ukraine is not a testing ground for weapons. Ukraine is a sovereign and independent state.

“But Russia still continues its efforts to kill our people, spread fear and panic, and weaken us.”

Russia did not comment on the attack.

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It comes as Russian media reported that Colonel General Gennady Anashkin, the commander of the country’s southern military district, had been removed from his role over allegedly providing misleading reports about his troops’ progress.

While Russian forces have advanced at the fastest rate in Ukraine since the start of the invasion, forces have been much slower around Siversk and the eastern region of Donetsk.

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Russian war bloggers have long complained that units there are poorly supported and thrown into deadly battles for little tactical gain.

Russia’s ministry of defence has not commented on the reports.

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Russian forces capture ‘former British soldier’ fighting for Ukraine – reports

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Russian forces capture 'former British soldier' fighting for Ukraine - reports

Russian forces have reportedly captured a British man while he was fighting for Ukraine.

In a widely circulated video posted on Sunday, the man says his name is James Scott Rhys Anderson, aged 22.

He says he is a former British Army soldier who signed up to fight for Ukraine’s International Legion after his job.

He is dressed in army fatigues and speaks with an English accent as he says to camera: “I was in the British Army before, from 2019 to 2023, 22 Signal Regiment.”

He tells the camera he was “just a private”, “a signalman” in “One Signal Brigade, 22 Signal Regiment, 252 Squadron”.

“When I left… got fired from my job, I applied on the International Legion webpage. I had just lost everything. I just lost my job,” he said.

“My dad was away in prison, I see it on the TV,” he added, shaking his head. “It was a stupid idea.”

In a second video, he is shown with his hands tied and at one point, with tape over his eyes.

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He describes how he had travelled to Ukraine from Britain, saying: “I flew to Krakow, Poland, from London Luton. Bus from there to Medyka in Poland, on the Ukraine border.”

Russian state news agency Tass reported that a military source said a “UK mercenary” had been “taken prisoner in the Kursk area” of Russia.

The UK Foreign Office said it was “supporting the family of a British man following reports of his detention”.

The Ministry of Defence has declined to comment at this stage.

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Body of missing rabbi Zvi Kogan found in UAE – as Israeli PM says he was murdered in ‘antisemitic terror incident’

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Body of missing rabbi Zvi Kogan found in UAE - as Israeli PM says he was murdered in 'antisemitic terror incident'

The body of an Israeli-Moldovan rabbi who went missing in the United Arab Emirates (UAE) has been found, Israel has said.

Zvi Kogan, the Chabad representative in the UAE, went missing on Thursday.

A statement from Prime Minister Benjamin Netanyahu‘s office on Sunday said the 28-year-old rabbi was murdered, calling it a “heinous antisemitic terror incident”.

“The state of Israel will act with all means to seek justice with the criminals responsible for his death,” it said.

On Saturday, Israeli intelligence agency Mossad said it was investigating the disappearance as suspicions arose that he had been kidnapped.

The Emirati government gave no immediate acknowledgment that Mr Kogan had been found dead. Its interior ministry has described the rabbi as being “missing and out of contact”.

“Specialised authorities immediately began search and investigation operations upon receiving the report,” the interior ministry said.

Mr Kogan lived in the UAE with his wife Rivky, who is a US citizen. He ran a Kosher grocery store in Dubai, which has been the target of online protests by pro-Palestinian supporters.

The Chabad Lubavitch movement, a prominent and highly observant branch of Orthodox Judaism, said Mr Kogan was last seen in Dubai.

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Israeli authorities reissued their recommendation against all non-essential travel to the UAE and said visitors currently there should minimise movement and remain in secure areas.

The rabbi’s disappearance comes as Iran has threatened to retaliate against Israel after the two countries traded fire in October.

While the Israeli statement on Mr Kogan did not mention Iran, Iranian intelligence services have previously carried out kidnappings in the UAE.

The UAE diplomatically recognised Israel in 2020. Since then, synagogues and businesses catering to kosher diners have been set up for the burgeoning Jewish community but the unrest in the Middle East has sparked deep anger in the country.

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