IPL: When will Kal Somani-led consortium’s purchase of Rajasthan Royals be implemented? | cricket news
New Delhi: As IPL 2026 approaches, a major off-field development has come into focus Rajasthan RoyalsChampion of the inaugural edition of the Indian Premier League (IPL), US-based entrepreneur Kal is being acquired by a consortium led by Somani for a whopping $1.63 billion. Despite the scale of the deal, the ownership change will only take effect after the conclusion of the 2026 season, meaning the current structure will remain in place for now.Somani is not new to the franchise, having been a minority investor since 2021.
With this latest move, he is set to take full control, which will significantly increase the global valuation of the franchise. Known for his strong presence in the US tech industry, Somani heads companies such as IntraEdge, Truyo and Truyo.AI and Academia, and has gradually expanded his interest in the sports world through investment and ownership roles.What makes this acquisition particularly noteworthy is the high-profile backing behind Somani’s consortium. Among the prominent names is Walmart heir and owner of the NFL’s Denver Broncos Rob Walton, widely considered one of the wealthiest sports owners in the United States. The group also includes the Hamp family, led by Sheila Ford Hamp, owner of the Detroit Lions and part of the Ford Motor Company legacy. Somani has expressed confidence in the future of IPL for a long time. Speaking about his first investment in 2021, he had said, “We see great potential in this investment and we are excited about the future of the IPL.” His continued commitment underlines the widespread confidence in the league’s rapid growth.