Kal Somani-led consortium wins bid to own Rajasthan Royals

In a significant development, a consortium led by U.S.-based entrepreneur Kal Somani has won the bid to acquire the Rajasthan Royals franchise in the Indian Premier League.

The consortium, which was competing against a Birla Group-backed bid and the Times of India group, is understood to have submitted an offer of approximately $1.63 billion. The change in ownership is expected to come into effect from June.

Somani, who is already an investor in Rajasthan Royals, has business interests spanning ed-tech, data privacy, artificial intelligence governance and sports technology. He is the founder of companies including IntraEdge, Truyo, Truyo.AI and Academian.

The consortium is also backed by Rob Walton of the Walmart family and the Hamp family, which holds majority ownership of the Detroit Lions. Sheila Ford Hamp, who belongs to the Ford family, is also associated with the group. The Ford family holds a significant stake in Ford Motor Company.

Somani had joined Rajasthan Royals as an investor in 2021, expressing confidence in the league’s growth trajectory. “We see huge potential with this investment, and we are excited for the future of the IPL,” he had said at the time.

His association with sport also includes co-ownership of Motor City Golf Club and early-stage investment in ventures such as TMRW Sports and the TGL Golf League.

The acquisition underlines the continued global investor interest in the IPL ecosystem, widely regarded as one of the most valuable sporting leagues in the world.