Indian Premier League franchise Rajasthan Royals announced the appointment of Mike Fordham as the group’s chief executive on Friday.
Fordham has more than 16 years of experience working with major sports organizations around the world and has been a key part of the IMG team that developed the IPL with BCCI, according to a press release.
He also led the development of The Hundred for the England & Wales Cricket Board, he added.
The Royals also said its main investor, Emerging Media IPL Limited (EMIPL), had increased its stake in the IPL franchise to more than 50%.
EMIPL, which is wholly owned and controlled by Manoj Badale, has successfully completed an equity fundraiser for this purpose, the statement said.
“Investors are now recognizing the value of sports franchises. EMIPL’s increased franchise participation and the expanded network of US-based value-added investors present an exciting opportunity to drive the growth of the Rajasthan Royals and the IPL “Badale said.