India-West News Desk
NEW DELHI – A U.S.-based consortium led by technology entrepreneur Kal Somani will buy the RajasthanRoyals for $1.63 billion (approximately ₹13,500–₹15,290 crore), according to several media reports.
The deal, subject to approval from the Board of Control for Cricket in India (BCCI), is expected to take effect after the 2026 IPL season. The valuation makes Rajasthan Royals the first IPL franchise to be valued at over $1 billion.
Somani, based in Scottsdale, Arizona, has more than 15 years of experience across artificial intelligence, data privacy, ed-tech, and sports technology. He is the founder of IntraEdge, Truyo, and Academian, and has been involved in initiatives related to artificial intelligence governance.
The investor group backing Somani includes Rob Walton, heir to the Walmart fortune and owner of the Denver Broncos, and the Hamp family led by Sheila Ford Hamp, owner of the Detroit Lions.
The franchise was previously owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale, who acquired the team for $67 million ahead of the IPL’s inaugural 2008 season.
Somani has been associated with the Rajasthan Royals since 2021 as an investor.
His other sports-related investments include co-ownership of the Motor City Golf Club and stakes in ventures such as the TGL Golf League and TMRW Sports. The consortium linked to the acquisition also has interests in Paarl Royals in South Africa’s SA20 league and Barbados Royals in the Caribbean Premier League.
According to reports, the Somani-led group emerged as the winning bidder amid competition from several entities, including the Aditya Birla Group, Serum Institute’s Poonawalla, and the Mittal family, led by ArcelorMittal CEO Aditya Mittal. A competing bid involving a multinational conglomerate partnered with U.S. investor David Blitzer was also in contention.
Reports also indicated that the Rajasthan Royals board had earlier declined a $1.7 billion offer from Columbia Pacific Capital Partners due to concerns over execution.
Blackstone Inc. has also explored potential investments in IPL franchises, including Rajasthan Royals and Royal Challengers Bengaluru. (With IANS Inputs)
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‘ Some details of this article were extracted from the following source indiawest.com ’
