Kal Somani’s consortium has acquired the Rajasthan Royals IPL franchise for a record USD 1.63 billion, with backing from American businessman Rob Walton and the Hamp family. This makes the Royals the first IPL team to be sold for over USD 1 billion. The deal is set to be finalized before the conclusion of the IPL 2026 season. Somani, who previously held a minority stake in the team, is known for his ventures in education technology, data privacy, AI governance, and sports technology. The Royals were previously owned by Emerging Media Ventures and were one of the original franchises in the IPL. The sale of the Lucknow Super Giants for USD 940 million and the Gujarat Titans for USD 575 million also made headlines. Additionally, the Royal Challengers Bangalore franchise is expected to be sold for over USD 2 billion.
Follow Franchise Cricket for more IPL news.
