Consortium led by US-based Kal Somani picks up Rajasthan Royals for $1.63 billion

| Mandakini Shalya | TNN | Mar 25, 2026, 08:15 IST

JAIPUR : The Rajasthan Royals franchise has been sold to a consortium led by US-based entrepreneur Kal Somani for $1.63 billion (about Rs 15,240 crore).

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In 2008, when the Indian cricket board (BCCI) first sold franchises in IPL, a consortium led by UK-based entrepreneur Manoj Badale had bought the Jaipur-based franchise for $67 million (about Rs 268 crore at 40/dollar). Almost 18 years later, the franchise has seen a 24-fold jump in valuation in dollar terms. In rupee terms, the valuation is up a whopping 57 times.

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Two owners of NFL franchises are also part of the consortium.

The consortium that has acquired Rajasthan Royals includes Rob Walton, heir to the Walmart fortune and owner of Denver Broncos, a team in the US professional football league, NFL. It is also backed by the Hamp family, led by Sheila Ford Hamp, owner of NFL’s Detroit Lions and a senior member of the Ford Motor Company dynasty. Ownership will come into effect following IPL-2026.

Somani’s acquisition reflects his deep, long-term belief in the IPL’s enormous growth ahead. When he first invested back in 2021, he pointed to the league’s “huge potential,” saying, “We see huge potential with this investment and we are excited for the future of the IPL.”

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The Royals were one of the eight original IPL franchises auctioned by BCCI in early 2008 for the league’s inaugural season. Led by Australian legend Shane Warne, the team pulled off a fairytale win in the first IPL season, their only triumph so far.

In 2021, Emerging Media increased its stake from 51% to 65%. That same year, USbased RedBird Capital Partners acquired a minority stake of nearly 15% for $37.5 million, valuing the franchise at around $250 million.

The team was then jointly controlled by Emerging Media Group, RedBird Capital, Lachlan Murdoch of Fox Corporation and several other minority stakeholders. In late 2025 and early 2026, the Royals initiated the process of selling the franchise, seeking a valuation north of $1 billion.