Kal Somani buys IPL team Rajasthan Royals in landmark $1.6 bn deal | IPL 2026

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A consortium led by Kal Somani has acquired the Indian Premier League franchise Rajasthan Royals for USD 1.6 billion. While the deal has been finalised, the formal transfer of control is expected after the conclusion of IPL 2026. The Times Group was also in contention but ultimately finished second in the bidding race.

Somani, who previously held a minority stake in the franchise, will now lead a consortium that includes backing from Walmart-linked investors, along with prominent American business families. The group has secured a complete 100 percent stake, making Rajasthan Royals the first IPL team to cross the USD 1 billion valuation mark.

The franchise is currently owned by Emerging Media Ventures, led by UK-based Manoj Badale, who will step aside once all formalities are completed.

Negotiations for the sale had been ongoing for several months, with the agreement now signed and awaiting final procedural clearances.

Record-Breaking IPL Valuation

The acquisition marks a new benchmark in IPL franchise valuations. Previously, the Lucknow Super Giants were bought by the RPSG Group for USD 940 million, while a majority stake in Gujarat Titans was acquired by the Torrent Group for USD 575 million.

The Royals’ sale significantly surpasses these figures, underlining the league’s growing commercial appeal and global investor interest.

Who Is Kal Somani?

Based in Scottsdale, Arizona, Somani is an entrepreneur with diverse business interests spanning education technology, artificial intelligence, data privacy, and sports technology. He is the founder of companies such as IntraEdge, Truyo, Truyo.AI, and Academian.

Beyond cricket, Somani has a keen interest in golf and is a co-founder of Motor City Golf Club, which has associations with legendary golfer Tiger Woods. His son, Arjun Somani, is also emerging as a promising player on the US junior golf circuit.

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