A huge change has taken place before the upcoming season of the Indian Premier League (IPL). The league’s first champion team Rajasthan Royals (RR) has now become the first IPL franchise with complete foreign ownership. After a long bidding process going on for the last six months, an organization led by American businessman Kal Somani has bought this team for $ 1.63 billion (about Rs 15,301 crore).
According to a Times of India report, the process of sale of Rajasthan Royals is now in its final stages. This mega deal has not only shocked cricket lovers but has also taken the valuation of IPL to a new high. Interestingly, amidst the talks of sale of big teams like Royal Challengers Bangalore (RCB), Rajasthan Royals have won and written a new chapter in the history of the league in terms of foreign investment.
Also read: 304 wickets, economy of 8… Entry of lethal bowler in SRH, how is the recent form?
Who is Kaal Somani?
Kal Somani is a well-known name in America’s tech and sports ecosystem. He is the founder of global technology companies like IntraEdge and Truyo.AI. Already he has made many investments in the sports world. Somani is the co-owner of Motor City Golf Club and an early investor in ventures such as TGL Golf League and TMRW Sports. According to media reports, Kaal Somani was born in 1998 and later moved to America. Some reports also say that Somani’s father died when he was 16 years old.
beat the big giants
Many renowned groups from around the world were involved in the race to buy Rajasthan Royals. India’s prestigious Aditya Birla Group was considered the front runner for this deal but Somani’s organization left them behind. Big names like Times of India Group, Capri Global and Sanjay Govil were also in the race. Recently there was news that Rajasthan Royals had also rejected the huge bid of about Rs 15,859 crore from Columbia Pacific Capital Partners, after which Somani’s proposal was approved.
Also read: IPL 2026: Franchises spend crores on foreign players, do they get any benefit?
When will Kal Somani get the ownership rights?
It is important for cricket fans to understand that the management of the team will not change overnight. According to media reports, this deal will be officially effective only after the end of IPL 2026. The final approval of the Board of Control for Cricket in India (BCCI) is mandatory for the sale of any franchise. BCCI’s Annual General Meeting (AGM) usually takes place in September or October, so the command of Rajasthan Royals will be officially handed over to the new owners only after October 2026. Till then the current management will continue to run the team.
Comments are closed.