New Delhi: As IPL 2026 approaches, a major off-field development has taken center stage with the inaugural Indian Premier League (IPL) champions Rajasthan Royals being acquired by a consortium led by American entrepreneur Kal Somani for a whopping $1.63 billion.
Despite the size of the deal, the ownership transfer will only take effect after the 2026 season, meaning the current structure will remain unchanged.
Somani is no stranger to the series, having been a minority investor since 2021.
With this latest move, he will take full control of the team, significantly increasing its global valuation.
Somani is known for his strong presence in the U.S. technology industry, leading companies such as IntraEdge, Truyo & Truyo.AI, and Academia, and has gradually expanded his interests into the sports world through investment and ownership roles.
What is particularly noteworthy about this acquisition is the high-profile support behind the Somani consortium.
Key figures among them include Rob Walton, heir to the Walmart fortune and owner of the NFL’s Denver Broncos, widely considered one of the richest 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 been confident about the future of the IPL.
Talking about his early investment in 2021, he said, “We see huge potential in this investment and we are excited about the future of IPL”. His continued commitment underscores a broader belief in the league’s rapid growth.