Kal Somani-led consortium to acquire Rajasthan Royals for $1.63 billion

Rajasthan Royals (RR) is set to be acquired by a US-based consortium led by tech entrepreneur Kal Somani in a deal valued at $1.63 billion (approx ₹15,290 crore), subject to BCCI approval.

Somani, an existing investor in the franchise, is joined by high-profile backers including Rob Walton of the Walmart family and members of the Ford-backed Hamp family. He is the founder of Arizona-based ventures IntraEdge, Truyo.ai and Academian.

The transaction is expected to be formalised in the coming days and will come into effect after the 2026 IPL season. British-Indian businessman Manoj Badale currently holds a 65% stake in the franchise.

The Somani-led group emerged ahead of competing bids from a Times Internet consortium, the Aditya Birla Group, and the Mittal family led by ArcelorMittal CEO Aditya Mittal.

At $1.63 billion, the deal highlights the IPL’s steep valuation curve, as by comparison, Lucknow Super Giants were acquired by the RPSG Group for just over ₹7000 crore in 2021.

Meanwhile, defending champions Royal Challengers Bengaluru are also on the market, with expectations that their valuation could exceed $2 billion.