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A U.S.-based consortium led by tech entrepreneur Kal Somani has agreed to buy 100% of Indian Premier League (IPL) founding franchise Rajasthan Royals for about $1.63 billion (roughly ₹15,000–15,300 crore), multiple media outlets reported on March 24, 2026.
The group is said to include Walmart heir Rob Walton and members of the Hamp family, who have NFL ownership experience.
Current majority owners led by Manoj Badale’s Emerging Media Ventures, with minority investors including RedBird and Lachlan Murdoch, will hand over control after the conclusion of the 2026 IPL season; the sale remains subject to Board of Control for Cricket in India (BCCI) approval.
The price marks the highest-ever valuation for an IPL team and makes Rajasthan Royals the league’s first confirmed billion-dollar franchise, reflecting rapidly rising media-rights, sponsorship and franchise valuations across global T20 cricket.
Somani, a prior minority investor in the Royals and founder of companies in AI, data governance and ed-tech, is expected to leverage his technology and sports-business background to expand the franchise’s digital, analytics and international reach.
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International Business Times AU RSS FeedKal Somani-Led Consortium Acquires Rajasthan Royals for Record $1.63 Billion in IPL History







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