Rajasthan Royals sold to Kal Somani-Led Consortium for $1.63 billion: Report

Indian Premier League (IPL) inaugural champions Rajasthan Royals are set to be acquired by a Kal Somani-led consortium in a deal reportedly valued at $1.63 billion, marking one of the biggest transactions in franchise cricket.

Highlighting the scale of the deal, renowned commentator Harsha Bhogle wrote on X:

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“Rajasthan Royals is sold for 1.63 billion USD. Purely for comparison, London Spirit, the most expensive team, was valued at USD 370 million when there was a stake sale in The 100.”

Somani, a US-based entrepreneur and existing minority stakeholder in Rajasthan Royals, has built ventures across ed-tech, data privacy, AI governance, and sports technology. His sporting interests include co-ownership of Motor City Golf Club and early investments in projects such as TMRW Sports and the TGL Golf League.

According to reports, the deal has been signed and is expected to be completed after the IPL 2026 season. The consortium backing the takeover includes Rob Walton and the Hamp family, majority owners of the Detroit Lions, with Sheila Ford Hamp also involved.

Meanwhile, the potential sale of Royal Challengers Bengaluru is also progressing, with multiple high-profile bidders in the fray. Interested parties reportedly include a consortium featuring Blackstone, Aditya Birla Group, and David Blitzer; a Ranjan Pai-led Manipal consortium backed by Kohlberg Kravis Roberts and Temasek; as well as Swedish private equity firm EQT.

Earlier reports suggested strong interest in RCB, with bids ranging from $1 billion to $1.8 billion. The Manchester United owners, the Glazer family, are also believed to be among the top bidders.

In January, pharma billionaire Adar Poonawalla said he would make a “strong and competitive” bid for the franchise.