Kal Somani, a US-based businessman, has reportedly acquired the IPL franchise Rajasthan Royals for a staggering USD 1.63 billion or approximately Rs. 15,300 crore, to be paid upfront. Somani is backed by American businessman Rob Walton, of the Walmart family, and the Hamp family. The sale would come into effect after the upcoming IPL 2026 season.
It’s the biggest such deal in IPL history. Last year, Torrent Group acquired a 67% majority stake in the Gujarat Titans from CVC Capital Partners for approximately ₹5,025 crore, valuing the franchise at roughly ₹7,500 crore. CVC Capital retained a 33% stake, following its initial 2021 acquisition of the team for ₹5,625 crore.
omani’s consortium was the frontrunner to acquire a majority stake in the Rajasthan Royals.
The franchise’s majority ownership was with Manoj Badale through Emerging Media Ventures, which held about 65 percent. Other stakeholders include RedBird Capital Partners and Lachlan Murdoch, among others. The stake sale process was initiated late last year, with investment bank The Raine Group acting as advisor.
Several prominent groups showed interest in the franchise. These include a consortium linked to the Aditya Birla Group and US-based sports investor David Blitzer, as well as interest from the family behind ArcelorMittal.
Who is Kal Somani?
Kal Somani is a Scottsdale, Arizona-based serial entrepreneur with over 15 years of experience across sectors such as ed-tech, data privacy, artificial intelligence governance, and sports technology.
