New Delhi. According to reports, the first Indian Premier League (IPL) champion team Rajasthan Royals has been sold to a Kal Somani-led consortium for US$1.63 billion. Famous commentator Harsha Bhogle wrote on social media platform
American businessman Kal Somani already had some stake in Rajasthan Royals. Over the last 15 years, he has launched several ventures focused on ed-tech, data privacy, AI governance, and sports tech. His involvement with sports also includes co-ownership of Motor City Golf Club and early-stage investments in businesses such as TeamMRW Sports and the GGL Golf League. According to the report of ‘NDTV Profit’, this deal has been done.
It is expected that it will be finalized after IPL 2026. The acquisition will be completed after the 2026 tournament. The consortium is also backed by Rob Walton of the Walmart family and the Hamp family, who own the majority of the Detroit Lions. Additionally, Ford family member Sheila Ford Hamp is also associated with this group.
The report claims that the deal for defending champions Royal Challengers Bangalore (RCB), which is currently available for sale, is also likely to be completed soon. The parties that have shown interest in buying RCB include the partnership of Blackstone, Aditya Birla Group and David Blitzer. Also in the race is Ranjan Pai-led Manipal Consortium (which includes Kohlberg Kravis Roberts and Temasek). Sweden’s private equity firm EQT is also present in this race.
Earlier, a report by ‘State of Play’ had claimed that nine parties had made bids ranging from $1 billion to $1.8 billion. This shows that there is a very serious interest in the RCB franchise. The bid of Manchester United owners Glazer Brothers is also considered to be among the highest bidders. In January, pharma tycoon Adar Poonawalla had said he would make a ‘strong and competitive’ bid to acquire ownership of RCB.
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