Sports
Kal Somani buys IPL team Rajasthan Royals in landmark $1.6 bn deal | IPL 2026
A consortium led by Kal Somani has acquired the Indian Premier League franchise Rajasthan Royals for USD 1.6 billion. While the deal has been finalised, the formal transfer of control is expected after the conclusion of IPL 2026. The Times Group was also in contention but ultimately finished second in the bidding race.
The franchise is currently owned by Emerging Media Ventures, led by UK-based Manoj Badale, who will step aside once all formalities are completed.
Record-Breaking IPL Valuation
The acquisition marks a new benchmark in IPL franchise valuations. Previously, the Lucknow Super Giants were bought by the RPSG Group for USD 940 million, while a majority stake in Gujarat Titans was acquired by the Torrent Group for USD 575 million.
Who Is Kal Somani?
Based in Scottsdale, Arizona, Somani is an entrepreneur with diverse business interests spanning education technology, artificial intelligence, data privacy, and sports technology. He is the founder of companies such as IntraEdge, Truyo, Truyo.AI, and Academian.
Beyond cricket, Somani has a keen interest in golf and is a co-founder of Motor City Golf Club, which has associations with legendary golfer Tiger Woods. His son, Arjun Somani, is also emerging as a promising player on the US junior golf circuit.
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