Newsmakers

In what is being described as the biggest deal in IPL history, Rajasthan Royals have reportedly been sold for a staggering $1.63 billion (approximately Rs 15,300 crore) to a consortium led by US-based entrepreneur Kal Somani.

According to reports, the transaction, which is expected to be completed after the IPL 2026 season, will see the consortium acquire 100 per cent ownership of the franchise, making Rajasthan Royals the most valuable team in IPL history.

Somani, a Scottsdale, Arizona-based businessman, is backed by prominent American investors, including Rob Walton of the Walmart family and the Hamp family, who own the Detroit Lions. Sheila Ford Hamp is also part of the ownership group and has links to the Ford Motor Company.

The deal eclipses previous IPL transactions. In 2025, Torrent Group acquired a 67% stake in the Gujarat Titans for around ₹5,025 crore, valuing the franchise at roughly Rs 7,500 crore - a figure now dwarfed by the Royals' valuation.

The Royals were previously controlled by Manoj Badale through Emerging Media Ventures, which held around 65% stake. Other investors included RedBird Capital Partners and Lachlan Murdoch. The stake sale process, initiated last year, was overseen by investment bank The Raine Group.

Who is Kal Somani?
Somani is no stranger to the Royals ecosystem, having first invested in the franchise in 2021. His latest move signals a strong belief in the IPL's continued growth and global appeal.

A serial entrepreneur with over 15 years of experience, Somani is the founder of ventures such as IntraEdge and Truyo, with interests spanning ed-tech, artificial intelligence governance and data privacy. In sport, he is a co-owner of Motor City Golf Club and an early investor in ventures like TMRW Sports and the TGL Golf League.