New Delhi: In a major development in the world of franchise cricket, reports suggest that Rajasthan Royals—the inaugural champions of the Indian Premier League—have been sold for a staggering $1.63 billion to a consortium led by US-based businessman Kal Somani.
The news gained traction after noted commentator Harsha Bhogle shared on social media that the franchise had been sold at the reported valuation, highlighting the massive growth of IPL team worth over the years. For comparison, London Spirit—one of the most expensive teams in The Hundred—was valued at around $370 million during its stake sale.
Somani, who already held a minority stake in Rajasthan Royals, has built a diverse business portfolio spanning ed-tech, data privacy, AI governance, and sports technology. His involvement in sports includes co-ownership of a golf club and early investments in emerging sports ventures.
According to reports, the consortium backing the deal includes prominent global investors such as Rob Walton and Sheila Ford Hamp, linked to ownership of the NFL’s Detroit Lions. The acquisition is expected to be formally completed after the conclusion of IPL 2026.
