Rajasthan Royals sold to Kal Somani-led US consortium for ₹15,000+ crore

The Indian Premier League (IPL) is not just a regular cricket league now. It has expanded vastly with people from all around the world investing in the ten franchises that play in every season. The 19th edition of the tournament is all set to start on March 28 between the Royal Challengers Bengaluru (RCB) and Sunrisers Hyderabad (SRH) in Bengaluru. 

Ahead of the league, one of the oldest teams in the history, the Rajasthan Royals (RR) have been sold. They were up for bidding wars for a long time, and many companies were interested in them. However, US-based entrepreneur Kal Somani bought the franchise with full ownership. 

Massive deal sees Rajasthan Royals change ownership ahead of IPL 2026

RR are acquired by a consortium led by a US-based entrepreneur, Kal Somani, for a whopping amount of USD 1.63 billion. This sale makes RR the first IPL team to be sold for more than USD 1 billion. The current RR owners have signed the deal, and the franchise now belongs to the consortium. They were looking to see 100% ownership for quite a long time. 

Meanwhile, RR were owned by Emerging Media Ventures, led by British Indian businessman Manoj Badale. Now, it belongs to Kal Somani. While the formalities have been completed, the formal passing of the baton will be done once the tournament is over. 

Who is Kal Somani? Details about the new owners and consortium

Kal Somani is a US-based tech entrepreneur, investor, and business leader who has bought the RR for INR 15,000 crore, as per reports. He acquired the company with full ownership. He is the founder of multiple tech companies, including IntraEdge, Truyo, Truyo.AI, and Academian. Somani's work spans AI governance, data privacy, ed-tech, and sports technology and has over a decade of experience as a startup founder.

Moreover, he is not a new face in the RR set-up as he has been an existing investor in the franchise since 2021. While all the members of the consortium have been disclosed, it is reportedly a diverse, high-value global investment group including American businessman Rob Walton, of the Walmart family, and the Hamp family, which also has majority stakes in the NFL's Detroit Lions.

Fans react to one of the biggest franchise sales in IPL history

The cricket fans were shocked by the amount that was invested in RR. However, some fans compared RR's valuation to that of the Pakistan Super League (PSL) valuation, which is five times less. The change in ownership will happen after the end of the IPL 2026 to maintain stability throughout the tournament. Meanwhile, fans have also demanded a change of captaincy in the RR camp.