Rajasthan Royals Set for Record $1.63 Billion Ownership Deal

New Delhi, March 2026 : In a landmark moment for the Indian Premier League, a US-based consortium led by tech entrepreneur Kal Somani has reportedly agreed to acquire a 100 per cent stake in Rajasthan Royals for a record $1.63 billion (approximately ₹13,500 crore).

The deal, expected to be the largest ownership transaction in IPL history, underscores the league’s growing global appeal and financial strength. While the agreement has been reached, the transition in ownership is likely to take effect after the 2026 IPL season.

The Rajasthan Royals, one of the original eight franchises from the inaugural 2008 season, were previously owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale. Notably, the franchise was initially purchased for just $67 million ahead of the first IPL edition, making it the most affordable team at the time. The current valuation marks a dramatic rise, reflecting the IPL’s evolution into one of the world’s most lucrative sporting leagues.

Kal Somani, based in Scottsdale, brings over 15 years of experience in sectors such as artificial intelligence, ed-tech, and data privacy. As the founder of companies like IntraEdge and Truyo, he has established a strong reputation in the global technology ecosystem, particularly in areas related to AI governance and digital innovation.

His entry into IPL franchise ownership is backed by a growing presence in the sports industry. Somani’s portfolio already includes co-ownership of the Motor City Golf Club and investments in ventures like the TGL Golf League and TMRW Sports, signalling his broader ambitions in global sports business.

The acquisition gains further significance due to the high-profile investors backing the consortium. Among them is Rob Walton, heir to the Walmart fortune and owner of the Denver Broncos, widely regarded as one of the wealthiest sports owners in the United States. The consortium also includes the influential Hamp family, led by Sheila Ford Hamp, a key figure associated with the Ford Motor Company legacy.

With strong financial backing and deep connections across technology and sports ecosystems, Somani is expected to steer the Rajasthan Royals towards a more innovation-driven and globally focused strategy. His vision is likely to emphasise the use of advanced technology to enhance fan engagement, branding, and overall franchise growth.

Somani’s association with the Royals dates back to 2021, when he first invested in the team and expressed confidence in the IPL’s long-term potential. This latest development marks a significant step forward, not just for the franchise but also for the IPL, which continues to attract global investors and set new benchmarks in the world of sports business.