Consortium led by US-based Kal Somani picks up Rajasthan Royals for $1.63 billion
Rajasthan Royals has been sold to a consortium led by US entrepreneur Kal Somani for $1. 63 billion, marking a significant 24-fold jump in dollar valuation since its 2008 acquisition. The deal, which includes NFL franchise owners Rob Walton and the Hamp family, reflects strong confidence in the IPL's future growth.
This acquisition is set to take effect after IPL-2026.
JAIPUR : The Rajasthan Royals franchise has been sold to a consortium led by US-based entrepreneur Kal Somani for $1. 63 billion (about Rs 15,240 crore). In 2008, when the Indian cricket board (BCCI) first sold franchises in IPL, a consortium led by UK-based entrepreneur Manoj Badale had bought the Jaipur-based franchise for $67 million (about Rs 268 crore at 40/dollar).
Almost 18 years later, the franchise has seen a 24-fold jump in valuation in dollar terms. In rupee terms, the valuation is up a whopping 57 times. Two owners of NFL franchises are also part of the consortium.
The consortium that has acquired Rajasthan Royals includes Rob Walton, heir to the Walmart fortune and owner of Denver Broncos, a team in the US professional football league, NFL. It is also backed by the Hamp family, led by Sheila Ford Hamp, owner of NFL’s Detroit Lions and a senior member of the Ford Motor Company dynasty. Ownership will come into effect following IPL-2026.