Media365
NEW DELHI: As IPL 2026 nears, a major off-field development has taken centre stage, with Rajasthan Royals, the champions of the inaugural edition of the Indian Premier League (IPL), being acquired for a massive $1.63 billion by a consortium led by US-based entrepreneur Kal Somani. Despite the scale of the deal, the ownership transition will only come into effect after the conclusion of the 2026 season, meaning the current structure will remain in place for now.Somani is not new to the franchise, having been a minority investor since 2021.
With this latest move, he is set to take full control, significantly raising the franchise’s global valuation. Known for his strong presence in the American tech industry, Somani heads companies like IntraEdge, Truyo & Truyo.AI, and Academia and has gradually expanded his interests into the sports world through investments and ownership roles.What makes this acquisition particularly noteworthy is the high-profile backing behind Somani’s consortium. Among the key names is Rob Walton, heir to the Walmart fortune and owner of the NFL’s Denver Broncos, widely regarded as one of the wealthiest sports owners in the United States. The group also includes the Hamp family, led by Sheila Ford Hamp, who owns the Detroit Lions and is part of the Ford Motor Company legacy. Somani has long expressed confidence in the IPL’s future. Speaking about his earlier investment in 2021, he had said, “We see huge potential with this investment, and we are excited for the future of the IPL”. His continued commitment underlines a broader belief in the league’s rapid growth.
