Rajasthan Royals Sold to US-Based Investors for $1.635 Billion

Rajasthan Royals has been sold to a consortium led by US-based entrepreneur Kal Somani for a whopping $1.63 billion (approximately ₹15,240 crore), making it one of the most valuable franchises in the Indian Premier League. The deal, which includes investors like Rob Walton (Walmart family) and the Hamp family (owners of NFL's Detroit Lions), marks a significant milestone in the IPL's growing global appeal. Kal Somani, a serial entrepreneur with expertise in tech and sports, had already invested in Rajasthan Royals in 2021. He's now taken full ownership, aiming to bring a trophy win to the franchise, which hasn't happened since their inaugural IPL title in 2008. The Somani-led consortium's ownership portfolio just got bigger! They're not just stopping at Rajasthan Royals (RR) in the IPL; they've also got Paarl Royals in SA20 and Barbados Royals in the CPL under their wing. And if that's not enough, they're part of the ownership group for Motor City Golf Club in Detroit, which is set to join the TGL indoor golf league in 2027, alongside golf legends Tiger Woods and Rory McIlroy. It is understood that the consortium, led by Somani, emerged as the winner on March 20 after multiple rounds of bidding including more than one final round of binding bids. It is believed Somani-led consortium outbid rivals, including Manchester Uniter co-owner Avran Glazer who headed Lancer Capital, as well as Capri Group, the Aditya Birla Group, and Times of India Group. That pair instead joined forces as part of a consortium which on Tuesday was announced as the new owners of Royal Challengers Bengaluru franchise in IPL and WPL. The Somani-led consortium's aggressive bid for Rajasthan Royals (RR) is driven by their confidence in the IPL's growth potential and India's rising global market influence. The consortium, comprising tech-savvy investors, sees huge opportunities in the IPL's future, with Kal Somani stating, "We see huge potential with this investment, and we are excited for the future of the IPL". The consortium is now in exclusive talks with RR's current owner, Manoj Badale, to finalize the deal, pending BCCI ratification. This $1.63 billion acquisition marks a significant milestone in the IPL's history, valuing RR among the league's most valuable teams. One of the eight original IPL franchises, RR was bought by UK-based Emerging Media, which is owned by Badale, for $67 million in 2008. Back then, one USD equalled INR 40, compared to INR 94 currently. So in rupee terms, the Somani-led consortium bid is 57 times that made in 2008.