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Rajasthan Royals Sold for $1.63B to Kal Somani-Led US Consortium

The Rajasthan Royals IPL franchise has been sold for a massive USD 1.63 billion to a consortium led by US-based entrepreneur Kal Somani. The deal, which includes backing from Walmart's Rob Walton and the Ford family's Sheila Ford Hamp, is set to be finalized after the 2026 IPL season. Meanwhile, the sale of Royal Challengers Bengaluru is also advancing, with several high-profile consortia in the bidding. Bids for RCB have reportedly ranged from USD 1 billion to USD 1.8 billion, indicating intense investor interest in top IPL assets.

Key Points: Rajasthan Royals Sold for $1.63 Billion to Kal Somani Group

  • Record $1.63B sale
  • US entrepreneur Kal Somani leads buy
  • Deal closes after 2026 IPL
  • Walmart's Rob Walton backs consortium
  • RCB sale also nearing completion
2 min read

Kal Somani-led consortium buys Rajasthan Royals for USD 1.63 billion

Rajasthan Royals IPL franchise sold for USD 1.63 billion to a US-based consortium led by entrepreneur Kal Somani, with backing from Walmart's Rob Walton.

"Rajasthan Royals is sold for 1.63 billion USD. - Harsha Bhogle"

New Delhi, March 24

Indian Premier League's inaugural champions Rajasthan Royals have been sold to the Kal Somani-led consortium for USD 1.63 billion, reports said.

Renowned commentator Harsha Bhogle shared a post on X, "Rajasthan Royals is sold for 1.63 billion USD. Purely for comparison, London Spirit, the most expensive team, was valued at USD 370 million when there was a stake sale in The 100."

Somani is a US-based entrepreneur who has held a minority stake in Rajasthan Royals. Over the past 15-plus years, he's founded and led ventures focused on ed-tech, data privacy, AI governance, and sports tech. His association with sport also includes co-ownership of Motor City Golf Club and early-stage investment in ventures such as TMRW Sports and the TGL Golf League.

As per NDTV Profit report, the deal has been signed and is expected to be closed after the 2026 IPL season. The takeover will be completed after the 2026 tournament. The consortium is also backed by Rob Walton of the Walmart family and the Hamp family, which holds majority ownership of the Detroit Lions. Additionally, Sheila Ford Hamp, a member of the Ford family, is also associated with the group.

The report further claimed that defending champions Royal Challengers Bengaluru (RCB), who are also officially on sale, are close to their deal being completed. The parties interested are a consortium of Blackstone, Aditya Birla Group, and David Blitzer; a Ranjan Pai-led Manipal Consortium (including Kohlberg Kravis Roberts and Temasek); and Swedish private equity firm EQT.

Earlier the report by the State of Play claimed that nine parties have submitted bids, ranging from USD 1 billion to USD 1.8 billion, indicating serious interest in RCB with Manchester Utd's Glazer brothers' bid positioning them among the highest bidders for the franchise.

In January, pharma tycoon Adar Poonawalla said he would make a 'strong and competitive' bid for securing the ownership of RCB.

- IANS

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Reader Comments

P
Priya S
Interesting to see a US-based entrepreneur with Indian roots taking over. Kal Somani seems to have a good tech and sports background. But I hope the soul of the team, which has always felt like an underdog story, isn't lost in all this corporate ownership.
R
Rohit P
The comparison with the London Spirit team valuation by Harsha Bhogle really puts things in perspective. IPL franchises are now worth more than some top European football clubs. Indian cricket's financial power is unmatched.
S
Sarah B
As a long-time RR fan, I'm a bit nervous. New ownership can change everything. The current management did a decent job. Hope the new consortium understands the fans and the culture of the IPL, not just see it as an investment.
V
Vikram M
The backing by Walmart and Detroit Lions owners shows the kind of heavyweight international interest the IPL commands. It's good for the league's profile, but ticket prices will surely go up for fans now.
K
Karthik V
Respectfully, while the business side is booming, I hope some of this wealth trickles down to domestic players and better facilities across the country. The focus sometimes feels too much on the glitz and not enough on the foundation of the sport.
M
Michael C

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