US Businessman Kal Somani Set To Acquire Rajasthan Royals IPL Franchise With $1.63 Billion Deal

Kal Somani is set to acquire Rajasthan Royals in a record $1.63 billion deal, marking the biggest ownership transaction in IPL history.

Rajasthan Royals are reportedly set for a major ownership change, with US-based businessman Kal Somani emerging as the new buyer in a record-breaking deal worth USD 1.63 billion (approximately ₹15,300 crore). The payment is expected to be made upfront, with the takeover likely to come into effect after the IPL 2026 season.

According to reports, Somani’s bid is backed by influential investors including Rob Walton of the Walmart family, along with support from the Hamp family. This transaction, if completed, would mark the largest franchise deal in IPL history, surpassing previous high-value investments in the league.

Previous Deals and Stake Sale Process

The valuation significantly exceeds recent franchise deals, including the acquisition of a majority stake in Gujarat Titans by Torrent Group, which valued the franchise at around ₹7,500 crore.

Currently, Rajasthan Royals’ majority ownership lies with Manoj Badale through Emerging Media Ventures, holding approximately 65 percent stake. Other investors include RedBird Capital Partners and Lachlan Murdoch.

The process to sell a controlling stake began late last year, with The Raine Group acting as the advisor. Several major entities showed interest, including groups linked to the Aditya Birla Group, US investor David Blitzer, and even stakeholders associated with ArcelorMittal.

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Who is Kal Somani?

Kal Somani is a Scottsdale, Arizona-based entrepreneur with over 15 years of experience across industries such as ed-tech, artificial intelligence governance, data privacy, and sports technology. He is the founder of companies like IntraEdge and Truyo, and has also been involved in AI governance initiatives.

In the sports ecosystem, Somani has invested in ventures such as Motor City Golf Club and emerging platforms like TMRW Sports and the TGL Golf League. Notably, he already has a connection with Rajasthan Royals, having first invested in the franchise in 2021.

His renewed push to acquire a controlling stake reflects his long-term belief in the IPL’s growth trajectory and the global potential of franchise-based cricket.