New Delhi, March 24 The IPL franchise, Rajasthan Royals, is set to be sold to a US-based consortium led by Kal Somani for a staggering USD 1.63 billion (approximately Rs 15,290 crore).
The Somani-led consortium includes Rob Walton from the Walmart family and the Hamp family (Ford). Somani is a tech entrepreneur based in Arizona, who has founded IntraEdge, Truyo.Ai, and Academian.
Other contenders included the consortium led by Times Internet, the Aditya Birla Group, and the Mittal family, led by ArcelorMittal CEO Aditya Mittal.
The sale of Rajasthan Royals is subject to approval from the BCCI and will take effect after the 2026 edition. Manoj Badale, a British-Indian, held a 65 per cent stake in the Royals.
"Kal is an existing investor in the franchise. The deal is subject to approval from the BCCI and will be signed soon. The price of USD 1.63 billion reflects how far the IPL has come as a brand," a well-placed source told