Royals Sports Group Chairperson, and the Lead Owner of Rajasthan Royals, Manoj Badale, said: "We are delighted to have signed this deal with Manish Patel, to acquire a majority stake in the Barbados CPL franchise."
"We are extremely grateful to the Barbados government for their continued support, and we look forward to making a positive impact on both cricket and tourism for the country," he added.
Rajasthan Royals Director of Cricket Kumar Sangakkara will also be monitoring the progress of the Barbados franchise.
"Barbados Royals will be an important part of the Royals’ cricket ecosystem. With a fantastic talent pool of local players, we have the opportunity to innovate and develop strategies that will benefit the Royals Group.
"We are also excited at the prospect of how we can promote growth in the game of cricket,” said the Sri Lankan legend.
Minister of Tourism and International Transport for Barbados, Senator, Lisa Cummins, added: “The Caribbean, and Barbados more specifically in this instance, have long been globally revered for their cricketing prowess, which continues to be one of the strongest pillars of our sports tourism offering.