Rajasthan Royals set to become first billion-dollar franchise ahead of IPL 2026
Rajasthan Royals are on track to cross the $1 billion mark, with four bidders submitting offers between about $1.1 billion and $1.3 billion.
Interest from global investors in IPL teams continues to grow, and the Rajasthan Royals are the latest franchise to come under the spotlight. One of the league’s original teams has received an early bid of $1.3 billion, led by U.S. investor Kal Somani, according to a report by Bloomberg.
Somani, who already holds a minority stake in the Rajasthan Royals, is leading one of four bidding groups that have moved to the next stage of the process. The sale is being managed by the Raine Group, which has reportedly fixed the base price at around $1.1 billion. Two large U.S.-based private equity firms are also among the shortlisted bidders.
The franchise is currently majority-owned by Emerging Media Ventures, with additional stakes held by RedBird Capital Partners and Tiger Global. The ongoing sale gives the ownership group a chance to restructure. Reports suggest that some early investors are looking to exit, as IPL team values continue to rise due to strong media rights deals and growing global interest.
IPL Ownership Shifts and Rising Investor Interest
This development follows a broader trend of changes in IPL ownership. Last year, CVC Capital Partners Plc exited its stake in Gujarat Titans in a deal that valued the franchise at around $800 million. At the same time, Diageo Plc’s Indian unit, United Spirits Ltd., is also reported to be reviewing its stake in Royal Challengers Bengaluru. Big global investors continue to show strong interest, with firms like Blackstone Inc. and Carlyle Group Inc. exploring opportunities to invest in IPL teams, highlighting the league’s growing value as a long-term asset.
Major Squad Changes Ahead of IPL 2026
On the cricket side, the Rajasthan Royals have seen mixed results over the years. After winning the first IPL title in 2008, they have reached only one final since, in 2022, where they finished runners-up to the Gujarat Titans. A decline followed, leading to a major reset after the 2025 season. Despite these struggles, investor interest has stayed strong. Ahead of IPL 2026, the Royals made big squad changes, including trading captain Sanju Samson to Chennai Super Kings in exchange for Ravindra Jadeja and Sam Curran, and bringing in Donovan Ferreira from Delhi Capitals in a deal involving Nitish Rana.
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