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Rajasthan Royals have been sold. The deal was confirmed on March 24 and the franchise that won the inaugural IPL in 2008 now has new owners waiting to take over once IPL 2026 concludes.
The sale price of $1.63 billion, approximately Rs 15,286 crore, makes Rajasthan Royals the first IPL franchise to be sold for more than a billion dollars and the most expensive franchise sale in the league's history. Here is everything you need to know about who has bought them and what changes.
Who is Kal Somani and why is he the man leading this deal
Kal Somani is a US-based entrepreneur who is not new to Rajasthan Royals. He joined as a minority investor in 2021 and has been part of the franchise's ownership structure since then.
When he came on board five years ago he said "We see huge potential with this investment and we are excited for the future of the IPL." He has now gone from minority investor to owning the entire franchise.
His business background spans education technology, data privacy, artificial intelligence governance and sports technology. He is the founder of IntraEdge, Truyo, Truyo.AI and Academian.
Kal Somani also co-owns the Motor City Golf Club and has made early investments in TMRW Sports and the TGL Golf League. He is not a traditional sports businessman. He is a technology entrepreneur who has steadily built his way into the sports world and the Rajasthan Royals acquisition is the biggest step in that journey.
Who else is part of the consortium
Kal Somani does not stand alone in this deal. The consortium behind him includes some of the most recognisable names in American business. Rob Walton of the Walmart family is among the backers. The Hamp family which holds majority ownership of the NFL's Detroit Lions is also part of the group.
Sheila Ford Hamp who belongs to the Ford family, co-owners of Ford Motor Company, is associated with the consortium as well.
The combination of Walmart money, NFL ownership experience and Ford family connections makes this one of the most high-profile ownership groups in franchise cricket history. The consortium beat competition from a Birla Group-backed bid and the Times of India group to win the franchise.
Who are the outgoing owners of Rajasthan Royals (RR)
Until the formal transition is completed after IPL 2026 the team remains under its existing structure. Manoj Badale of Royals Sports Group has been the principal owner and chairman holding approximately 65 percent through Emerging Media Ventures.
RedBird Capital Partners the US-based private equity firm acquired a 15 percent stake in 2021. Lachlan Murdoch the CEO of Fox Corporation holds a minority stake of roughly 13 percent.
The sale reportedly came after the Royals management rejected several other offers including a Rs 16,000 crore proposal from Columbia Pacific Capital Partners as they held out for a valuation that reflected the league's global growth.
When does the takeover happen and what changes for IPL 2026
The formal transition of ownership is expected to take effect after the conclusion of IPL 2026 with completion expected by June. The team that takes the field against CSK on March 30 in Guwahati will still be operating under the existing ownership structure.
The new owners will be watching from the outside as IPL 2026 unfolds before they formally take control. On the field RR have also confirmed Dasun Shanaka as the replacement for the injured Sam Curran joining for Rs 2 crore.
The Sri Lankan all-rounder and T20I captain brings 3350 international runs and 86 wickets across formats. Everything else stays the same for now. The IPL cricket starts in four days. The new chapter starts after it ends.
