After much anticipation, the Rajasthan Royals new owner have been confirmed ahead of the upcoming Indian Premier League (IPL 2026) season. It is understood that a consortium led by US-based entrepreneur Kal Somani have secured 100% ownership rights of the franchise. The ownership will change hands after the end of the IPL 2026 edition.
Kal Somani’s consortium which also includes Rob Walton (Walmart) and the Hamp (Ford) families eclipsed Indian business owner Aditya Mittal, CEO of global steel giant ArcelorMittal to win the rights. The Mittaly family had only recently submitted their bid before the deadline on March 17.
Notably. Somani already previously held minority stakes in RR, having made his entry in 2021. Apart from being the Rajasthan Royals new owner, he is also the co-owner of Motor City Golf Club and is an early investor in TMRW Sports and TGL Golf League.
Speaking after the development, a source privy to the news told Moneycontrol,
“Kal Somani is an existing investor in Rajasthan Royals and made his entry in 2021. The team received around 4 binding bids earlier this week and now it seems that the combine of HNI’s led by Somani has edged ahead of others and is seen as a frontrunner for the deal.”
While an official update is yet to come from the franchise
ALSO READ:
With the sale priced at a record $1.63 billion (approx. INR 15,300 crore), the Rajasthan Royals new owner has now made the franchise the most expensive IPL team. In the process, RR also became the first billion-dollar team in IPL history.
Previously, the Sanjiv Goenka-led RPSG Group had acquired the Lucknow Super Giants (LSG) in 2021 for $940 million.
For perspective, the RR deal is so massive that the most expensive team in The Hundred sales last year, London Spirit was acquired for 370 million USD, almost one-third the price at which the Royals’ stakes were sold.
However, it remains to be seen if RR holds onto the ‘most expensive’ tag for long or if it will be taken away in the coming days with Royal Challengers Bengaluru (RCB) also on the lookout for a new owner and their sale is reportedly expected to touch the $2 billion mark.
For more updates, follow CricXtasy on Facebook, Instagram, Twitter, and YouTube.
