In a landmark moment for the Indian Premier League (IPL), a US-based consortium led by tech entrepreneur Kal Somani has reportedly agreed to acquire a 100% stake in Rajasthan Royals for a record $1.63 billion (₹13,500 crore).
The deal, expected to be completed after IPL 2026, is set to become the largest ownership transaction in the league’s history, underlining the IPL’s growing global appeal.
Who is Kal Somani?
Based in Scottsdale, Somani is a technology entrepreneur with over 15 years of experience across artificial intelligence, ed-tech, and data privacy. He is the founder of IntraEdge and Truyo and is widely regarded as a key voice in AI governance and digital innovation.
His entry into sports ownership has been gradual but strategic. Somani already has stakes in ventures such as Motor City Golf Club and has invested in emerging platforms like TGL Golf League and TMRW Sports, signalling a growing interest in the sports-tech ecosystem.
Somani’s association with Rajasthan Royals dates back to 2021, when he first acquired a minority stake in the franchise. Over time, he has shown strong belief in the IPL’s long-term growth, which has now culminated in a full takeover bid.
The franchise was previously owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale. Notably, Rajasthan Royals were among the original eight teams in the inaugural IPL season in 2008 and was acquired for just $67 million at the time, the lowest among all franchises then.
Powerful backing behind the deal
The acquisition gains further significance due to the high-profile names backing the consortium. Among them is Rob Walton, heir to the Walmart fortune and owner of the Denver Broncos. Also part of the group is the Hamp family, led by Sheila Ford Hamp, principal owner of the Detroit Lions.
With strong ties across the US technology and sports industries, Somani is expected to steer Rajasthan Royals towards a more innovation-driven future. His vision is likely to focus on leveraging technology to enhance fan engagement, branding, and the franchise’s global footprint.