Indian Premier League franchise Rajasthan Royals on Tuesday was purchased by a consortium led by businessman Kal Somani for a whopping sum of Rs. 15,300 crore (USD 1.63 billion).
The consortium is backed by Rob Walton of the Walmart family and the Hamp family. Sheila Ford Hamp, a member of the Ford family that holds stake in the Ford Motor Company, is also associated with the group.
Who is Kal Somani?
The US-based entrepreneur had been an investor in RR since 2021. He also holds stake in Motor City Golf Club in the Tomorrow’s Golf League, a team-based indoor golf league founded by Tiger Woods and Rory McIlroy.
Somani has been known for his work in the American technology sector. He is the founder of IntraEdge, a technology services and solutions firm based in Arizona, United States. He also founded Truyo, a data privacy right management and artificial intelligence governance firm.
After the acquisition, Rajasthan Royals becomes the most expensive team in the IPL.
The Royals are the latest in a list of sporting entities owned by members of this consortium. The Walton family owns the National Football League side Denver Broncos. The Hamp family too owns an American football team, Detroit Lions.
Published on Mar 24, 2026