New Delhi, March 24 (SocialNews.XYZ) In a landmark development 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 represents the largest ownership transaction in the league’s history, further reinforcing the IPL’s stature as a global sporting powerhouse. The Royals are the first IPL team to be sold for over USD 1 billion, but the change in ownership, however, is likely to kick in after IPL 2026.
The Royals were previously owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale. They were one of the eight original franchises that participated in the IPL's first-ever season. Before the 2008 IPL, the Rajasthan franchise was acquired by Emerging Media Ventures for USD 67 million, making it the most affordable franchise sold by the BCCI before that inaugural edition.
Somani, a Scottsdale-based entrepreneur with more than 15 years of experience in artificial intelligence, ed-tech, and data privacy, has built a strong reputation in the technology sector. As the founder of IntraEdge and Truyo, he has been a notable voice in AI governance.
His entry into sports ownership is supported by an expanding portfolio that includes co-ownership of the Motor City Golf Club and investments in emerging ventures such as the TGL Golf League and TMRW Sports.
The acquisition gains additional prominence due to the high-profile backing behind Somani’s consortium. Among the key investors is Rob Walton, heir to the Walmart fortune and owner of the Denver Broncos. With a net worth exceeding $110 billion, Walton is regarded as the wealthiest sports owner in the United States. The consortium also includes the influential Hamp family, led by Sheila Ford Hamp, owner of the Detroit Lions and a prominent figure within the Ford Motor Company legacy.
With deep ties across the US technology and sports ecosystems, Somani is expected to guide the Royals toward a more aggressive, innovation-driven global strategy, leveraging technology to enhance branding and fan engagement. His association with the franchise dates back to 2021, when he first invested in the Royals and expressed strong confidence in the IPL’s long-term growth trajectory.
Source: IANS
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