Kal Somani, an Indian-origin, US-based tech entrepreneur, has emerged as the face of a landmark deal in the Indian Premier League as a consortium led by him is set to acquire Rajasthan Royals for a reported $1.63 billion (approximately Rs 15,290 crore).
The deal, once approved by the BCCI, would make the Royals the most expensive franchise in IPL history. Somani is not new to the Royals setup. He has been a minority shareholder in the franchise, but this deal will see his consortium take full control of the 2008 champions. The ownership change is expected to come into effect after the 2026 IPL season, ending the long-standing majority stake held by British-Indian businessman Manoj Badale.
The valuation significantly surpasses the Rs 7,090 crore paid by the RP-SG Group for Lucknow SuperGiants in 2021, underlining the IPL's steep commercial rise.
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Tech Entrepreneur With Global Links
Based in Arizona, Somani has forged his reputation in the technology sector. He is the founder of multiple companies, including IntraEdge, Truyo.ai, and Academian.
His consortium also includes Rob Walton from the Walmart family and members of the Ford-linked Hamp family. The backing adds significant financial muscle and also brings global credibility to the bidding table.
Expanding Sports Portfolio
Before the Royals deal, Somani had also previously made significant investments in the sports industry. He is a co-owner of the Motor City Golf Club and an early investor in ventures such as TGL Golf League and TMRW Sports, projects that blend technology with sports entertainment.
As a data-driven strategist, Somani focuses on analytics and modernizing sports through technology, ensuring the team stays ahead of the curve digitally, both on the field and when it comes to the fans' viewing experience.
The Rajasthan Royals investment reflects the IPL's rise to one of the most valuable sporting properties globally. The steep jump in franchise valuation signals unprecedented investor confidence and increasing international interest in the league.
The Somani-led consortium outbid several high-profile contenders, including groups backed by Times Internet, the Aditya Birla Group, and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
For Somani, the acquisition represents both a consolidation of his existing stake and a significant step into the top tier of global sports ownership. The final approval from the BCCI remains the last hurdle before the deal is formally completed.
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