Rajasthan Royals' ownership is changing hands once again with a new consortium taking 100% charge at the 2008 champions. As per multiple reports, a Kal Somani led consortium has purchased the franchise for a whopping INR 15,000 crore making it one of the most expensive deals in sports history.
Kal Somani is an Indian origin US based entrepreneur. Somani is the founder and CEO of Intra Edge, a technology and services firm based out of Arizona. He also founded Truyo, a data privacy and AI governance platform. Somani is also linked with angel investing in Upstox, which was once an IPL sponsor.
Somani's consortium includes global backers like Rob Walton, the heir to the Walmart business. The Hamp family, owners of NFL franchise Detroit Lions, are also in the mix.
Earlier, Somani was linked with the partnership of Indian fugitive Lalit Modi in buying Rajasthan Royals, a claim denied by Modi. Modi is the founder of IPL before his escape from the country.
The Somani led consortium will only take helm after the end of the IPL 2026. It marks a new era for the franchise, who moved on from fan favourite Sanju Samson. The Kerala batter, long time RR skipper, moved to CSK with Riyan Parag now taking charge of the side.
