New York: In a landmark development for the Indian Premier League (IPL), a US-based consortium led by tech entrepreneur Kal Somani has reportedly agreed to acquire a 100 percent stake in Rajasthan Royals for a record $1.63 billion.
The deal represents the largest ownership transaction in the league’s history, further reinforcing the IPL’s stature as a global sporting powerhouse. The Royals are the first IPL team to be sold for over USD 1 billion, but the change in ownership, however, is likely to kick in after IPL 2026.
The Royals were previously owned by Emerging Media Ventures, led by British-Indian businessman Manoj Badale. They were one of the eight original franchises that participated in the IPL's first-ever season. Before the 2008 IPL, the Rajasthan franchise was acquired by Emerging Media Ventures for USD 67 million, making it the most affordable franchise sold by the BCCI before that inaugural edition.
Somani, a Scottsdale-based entrepreneur with more than 15 years of experience in artificial intelligence, ed-tech, and data privacy, has built a strong reputation in the technology sector. As the founder of IntraEdge and Truyo, he has been a notable voice in AI governance.
His entry into sports ownership is supported by an expanding portfolio that includes co-ownership of the Motor City Golf Club and investments in emerging ventures such as the TGL Golf League and TMRW Sports.
With deep ties across the US technology and sports ecosystems, Somani is expected to guide the Royals toward a more aggressive, innovation-driven global strategy, leveraging technology to enhance branding and fan engagement.
Aditya Birla Group-led consortium acquires RCBMumbai: A consortium led by Aditya Birla Group and the Times Internet Limited has acquired the defending Indian Premier League (IPL) and Women's Premier League champions Royal Challengers Bengaluru (RCB) for INR 16,660 crore, the owners of the franchise informed regulatory bodies. United Spirits Ltd, the owners of the franchise, made this disclosure in mandatory regulatory filings with the Bombay Stock Exchange and the National Stock Exchange of India on Tuesday. Bolt Ventures (Bolt) and Blackstone's perpetual private equity strategy (BXPE, Blackstone) are the other members of the consortium that have jointly bought the Royal Challengers Bengaluru, one of the eight original franchises of the IPL that was formed ahead of the inaugural edition in 2008. The decision to sell off its 100% equity stake in Royal Challengers Sports Private Limited was approved by the board of United Spirits Limited, owned by Diageo India, a subsidiary of the UK-based Diageo plc. This decision was taken by its board in a meeting. RCB is the first and only franchise to hold the IPL and WPL titles at the same time. RCB men won their maiden IPL title in 2025, while the women followed suit to win their second WPL title in February 2026. |
