Indian American Tech Entrepreneur Kal Somani Acquires Rajasthan Royals for Record Breaking 1.63 Billion

In the biggest ownership transaction in Indian Premier League history, a US led consortium headed by Indian American entrepreneur Kal Somani has acquired the Rajasthan Royals for $1.63 billion, eclipsing every previous IPL franchise sale and signalling a powerful new wave of American capital entering Indian cricket.

Somani, a Scottsdale based serial tech entrepreneur and founder of IntraEdge, Truyo.AI and Academian, was already a minority investor in the Royals since 2021. He is backed in the deal by Rob Walton of the Walmart family and the Hamp family, owners of the NFL's Detroit Lions. The deal, managed by investment bank the Raine Group, saw Somani outbid a rival consortium that included American sports investor David Blitzer.

The ownership change will take effect after the conclusion of IPL 2026, with the current management remaining in place for the season. The Royals, the inaugural IPL champions in 2008, open their 2026 campaign against Chennai Super Kings in Guwahati on March 30 under captain Riyan Parag and head coach Kumar Sangakkara.​

For Somani, the acquisition is the culmination of a long term conviction in the IPL's global potential. "We see huge potential with this investment, and we are excited for the future of the IPL," he said when he first invested in the franchise. The record valuation proves that conviction was well placed.