In a major development, a US-based consortium of investors has placed a staggering bid to buy IPL franchise Rajasthan Royals (RR) in what could be one of the biggest deals in world franchise cricket. The bid is headed by Arizona-based tech entrepreneur Kal Somani, and he made a $1.635 billion (approximately INR 15,290 crore) bid to acquire complete ownership of the squad. If this potential deal goes through, it would be one of the costliest franchise deals in global sports leagues history and demonstrate the huge growth and international reach of the IPL.
The consortium list includes a few prominent names from the United States sports industry. Among them are Rob Walton, the owner of the N.F.L.’s Denver Broncos, and Michael Hamp, who is the son of Sheila Ford Hamp, the owner of the Detroit Lions. Somani himself was already an investor in Rajasthan Royals but has now joined forces with other partners to take complete ownership of the franchise. If completed, the group also would acquire ownership of the Royals’ franchise in other leagues, including Paarl Royals in South Africa’s SA20 competition and Barbados Royals in the Caribbean Premier League (CPL).
Multiple rounds of competitive bidding culminated on March 20, with Somani’s group being the winning bidder, according to reports. The bidding process drew interest from a number of large corporate and investment groups, according to reports. Among the challengers were Manchester United co-owner Avram Glazer via Lancer Capital, and bids connected to the Capri Group, the Aditya Birla Group and the Times of India Group. Manoj Badale, the current owner of Rajasthan Royals, received other bids at lower values but eventually plumped for a bid from Somani’s consortium who outbid others to progress into exclusive talks.
The eye-watering valuation is a testament to the extraordinary financial growth of the IPL, which was founded in 2008. Badale’s UK-based Emerging Media bought the Rajasthan Royals for only $67 million. At the time, the franchise was among the league’s least valuable teams. But the new offer marks a phenomenal jump in value, with the franchise reportedly valued at almost 57 times its purchase price in Indian rupees.
Rajasthan Royals have their own unique place in IPL’s history books having won the tournament’s inaugural edition in 2008 when it was led by Shane Warne. The franchise has brought on several high-profile investors over the years, including RedBird Capital Partners; Lachlan Murdoch; and Kevin Plank and a host of technology entrepreneurs and business leaders.
It remains to be seen if such change in ownership will impact the team’s participation in IPL 2026 season. In a change to their plans, Rajasthan Royals will be led by Riyan Parag and their campaign is scheduled to start against Chennai Super Kings on March 30. The franchise will play its first three home games at its secondary venue in Guwahati before relocating to its primary home base later on in the tournament. Should the deal go through and the BCCI approve, it would further underline the IPL’s position as one of global sport’s most valuable leagues.
