Mumbai: In one of the biggest transactions in Indian Premier League history, a consortium led by US-based entrepreneur Kal Somani has acquired full ownership of the Rajasthan Royals for USD 1.63 billion (approximately Rs 15,300 crore).
The deal, which is subject to approval by the Board of Control for Cricket in India (BCCI), is expected to take effect after the conclusion of the IPL 2026 season. This marks a significant valuation jump for the franchise, which was originally bought for just USD 67 million in 2008.
Kal Somani, who has been an investor in the Rajasthan Royals since 2021, heads the high-profile group. He is a tech entrepreneur with interests in ed-tech, data privacy, AI governance, and sports ventures. Somani also serves as a co-owner of Motor City Golf Club, a Detroit-based team set to join the Tomorrow’s Golf League (TGL) in 2027. The league was co-founded by golf icons Tiger Woods and Rory McIlroy in partnership with the PGA Tour, and Somani is understood to be among its early investors.
The consortium receives strong backing from prominent American business families with deep roots in professional sports ownership. Rob Walton, aged 81 and the eldest son of Walmart founder Sam Walton, brings extensive experience to the group. He served as chairman of Walmart from 1999 to 2015 and, four years ago, led a consortium including his daughter Carrie Walton Penner and her husband Greg Penner to purchase the NFL’s Denver Broncos for a record USD 4.65 billion. Walton also holds a 10 per cent stake in Major League Baseball’s Arizona Diamondbacks.
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Joining them is the Hamp family, led by Sheila Ford Hamp, who is the principal owner and chairperson of the NFL franchise Detroit Lions. Sheila Ford Hamp belongs to the influential Ford family, which has longstanding ties to the Ford Motor Company.
This acquisition brings together expertise from technology, retail, automotive heritage, and major-league sports management, signalling strong global confidence in the future growth of the IPL. The Rajasthan Royals, winners of the inaugural 2008 edition, will continue under their current ownership structure through the upcoming 2026 season.
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