NEW DELHI — A U.S.-based consortium led by tech entrepreneur Kal Somani has agreed to acquire a 100% stake in Indian Premier League franchise Rajasthan Royals in a record deal valued at $1.63 billion (₹13,500 crore), marking the largest ownership transaction in the league’s history.
The agreement underscores the IPL’s growing global appeal, with the Royals becoming the first franchise in the tournament to cross the $1 billion valuation mark. The ownership transition is expected to take effect after the 2026 season.
The franchise is currently owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale. Rajasthan Royals were among the original eight teams in the IPL’s inaugural 2008 season, when the franchise was purchased for $67 million, making it the most affordable team at the time.
Somani, based in Scottsdale, Arizona, brings more than 15 years of experience in artificial intelligence, ed-tech, and data privacy. He is the founder of IntraEdge and Truyo and is known for his work in AI governance.
His move into sports ownership builds on an expanding investment portfolio that includes co-ownership of the Motor City Golf Club and stakes in ventures such as the TGL Golf League and TMRW Sports.
The consortium backing the deal includes several high-profile investors, notably Rob Walton, heir to the Walmart fortune and owner of the Denver Broncos, whose net worth exceeds $110 billion. The group also includes members of the Hamp family, led by Sheila Ford Hamp, owner of the Detroit Lions and part of the Ford Motor Company legacy.
With strong ties to both the U.S. technology and sports sectors, Somani is expected to steer the Royals toward a more innovation-driven global strategy, with a focus on leveraging technology to enhance fan engagement and brand growth.
Somani has been associated with the franchise since 2021, when he first invested in the Royals and expressed confidence in the IPL’s long-term growth prospects. (Source: IANS)
