Rajasthan Royals has become the most expensive Indian Premier League franchise after a $1.63 billion acquisition
Rajasthan Royals has set a new benchmark in Indian Premier League history after a consortium led by US-based Indian entrepreneur Kal Somani acquired the franchise for a reported $1.63 billion (approximately ₹15,300 crore). The consortium includes Rob Walton from the Walmart family and members of the Hamp family associated with Ford Motor Company, providing both financial backing and global credibility.
Who is Kal Somani?
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Indian-origin entrepreneur behind IPL’s most expensive franchise
Kal Somani, a 38-year-old Indian-origin entrepreneur based in Arizona, United States, has emerged as the key figure behind the recent acquisition of Rajasthan Royals, making it the most expensive franchise in Indian Premier League history. Somani has been associated with the Royals since 2021 as a minority shareholder, and this acquisition consolidates his control over the 2008 champions.
Business background and technology ventures
Somani is best known as the founder of IntraEdge, a technology services and solutions company, and Truyo.ai, a platform focused on data privacy rights and artificial intelligence governance. He also founded Academian, reflecting his interest in combining technology with education. Over the years, he has built a reputation as a data-driven entrepreneur with a focus on analytics, modernisation, and strategic growth.
Sports investments and international connections
Beyond technology, Somani has made significant investments in sports. He co-owns the Motor City Golf Club and has invested in the Tomorrow’s Golf League, a team-based indoor golf league founded by Tiger Woods and Rory McIlroy. This shows his interest in integrating technology and sports entertainment.
The Rajasthan Royals acquisition is backed by global investors including Rob Walton of the Walmart family and the Hamp family, known for their association with Ford Motor Company and ownership of American football teams. This partnership provides both financial muscle and international credibility.
Significance of the deal
Somani’s consortium outbid several high-profile groups, including bidders backed by Times Internet, the Aditya Birla Group, and ArcelorMittal CEO Aditya Mittal, highlighting the competitive nature of the sale. The deal, valued at $1.63 billion (approximately ₹15,300 crore), surpasses the previous record set by Lucknow SuperGiants, signalling the IPL’s growing global appeal and commercial value.
Looking ahead
Once approved by the BCCI, Somani and his consortium will take full control of Rajasthan Royals after the 2026 IPL season, ending the majority stake previously held by British-Indian businessman Manoj Badale. With his blend of technology expertise and sports investment experience, Somani is expected to modernise the franchise, enhance fan engagement, and further elevate the Royals’ brand on the international stage.
This acquisition not only marks a personal milestone for Somani but also reflects the rising intersection of technology, international investment, and cricket in India, setting a new benchmark for franchise ownership and management.
Published: 24 Mar 2026, 08:19 pm IST
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