A major ownership change is set to reshape one of the IPL’s founding teams, with Rajasthan Royals moving into new hands following a high-value deal. Kal Somani, already a shareholder in the franchise, has secured full ownership after winning a competitive bidding process.
The acquisition, valued at roughly USD 1.6 billion, saw the Times Group finish just behind in the race. Somani will lead a consortium backed by Walmart, marking a significant shift in the franchise’s structure and future direction. It also helped Rajasthan become the most expensive IPL franchise ever. Sajiv Goenka-led RP‑SG Group paid Rs 7,090 crore to buy Lucknow Super Giants, which was the most expensive franchise to date. With Rajasthan being sold for over Rs 15,0000 crore, it holds the top spot.
Meanwhile, the transition will not be immediate, as reported by The Times of India, though, with current leadership under Manoj Badale expected to continue until the conclusion of the 2026 season, after which Somani will formally assume charge.
Who is Kal Somani?
Somani is a US-based entrepreneur and investor with interests across technology and emerging business sectors. He has built and backed companies in areas such as data privacy, artificial intelligence and enterprise solutions, while also being active as an angel investor.
With experience spanning business leadership and investments, his entry as the majority owner signals a shift towards a more globally aligned ownership structure for the IPL franchise.
What does Rajasthan Royals’ sale imply?
The recent sale of the RR has set a benchmark for IPL franchise valuations, with market experts now predicting that Royal Challengers Bangalore could easily surpass the $2 billion mark. Current owners Diageo, through United Spirits, have reportedly set a firm March 31 deadline to conclude the sale. Analysts note that RCB’s strong brand presence and extensive digital reach could justify a premium of 15–20 percent over the Royals’ valuation.
Interest in RCB has narrowed to a handful of major bidders after early contenders, including the Glazer family and Adar Poonawalla, stepped back. Front-runners include a consortium led by Dr. Ranjan Pai of Manipal Hospitals, US private equity firm KKR and Singapore’s Temasek. Their main rival is a group formed by Swedish PE firm EQT and Premji Invest, Azim Premji’s investment arm. Additionally, reports indicate that an Indian multinational has joined forces with American sports investor David Blitzer and global investment giant Blackstone to enter the bidding after missing out on the Royals.
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