Arizona's Kal Somani to buy Rajasthan Royals for record $1.63 billion

 

 

 

PP Cherian

Arizona: Rajasthan Royals are witnessing the biggest bid in IPL history. A group led by Arizona-based NRI entrepreneur Kal Somani is set to buy the team for around Rs 13,500 crore (1.63 Billion).

This is the first time an IPL team has been valued at over $1 billion.

Somani, who is known for his expertise in artificial intelligence and sports technology, has been an investor in Rajasthan Royals since 2021.

Walmart owner Rob Walton and the Hamp family, who own the Detroit Lions, are also part of this group.

Somani will take ownership of the team after the 2026 IPL season, subject to BCCI approval.

In 2008, Manoj Badale's Emerging Media team was acquired for just $67 million.

The Somani-led group achieved this feat by beating other major groups, including Aditya Birla and Serum Institute.