British-Indian entrepreneur Manoj Badale promoted Rajasthan Royals, the winner of the inaugural edition of the Indian Premier League (IPL) in 2008, has kick-started the process for a proposed big-bang deal aimed at offering a controlling stake in the popular cricket franchise, multiple industry sources in the know told Moneycontrol.

Badale's Emerging Media Ventures holds around 65 per cent stake in the franchise as per reports, with minority investors including American investment management firm RedBird Capital Partners (around 15 per cent stake) and Fox Corporation's Lachlan Murdoch, among others.

"A majority stake is up for grabs in Rajasthan Royals, and these are early days in the transaction. The plan is value maximisation, and depending on the preference of the incoming buyer and t

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