Rajasthan Royals sold to US-led consortium for $1.63 billion as IPL franchise values soar
The Rajasthan Royals have new owners. A US-based consortium headlined by tech entrepreneur Kal Somani has agreed to buy the franchise for $1.63 billion, roughly 15,290 crore. The deal, brokered by investment bank Raine Group, is expected to close after the IPL 2026 season wraps up.
From $67 million to $1.63 billion
When the Royals were first sold at the 2008 IPL auction, they went for $67 million, the cheapest of the eight original franchises. Eighteen years and one title later, the price tag has multiplied more than 24 times over. Emerging Media, led by Manoj Badale, held the majority stake throughout that stretch and will step aside once the transaction is finalised.
Who is behind the deal
Somani is not new to the franchise. He has been a minority investor since 2021 and has a background in sports data and AI ventures. His consortium includes Rob Walton of the Walmart family and the Hamp family, who own the NFL's Detroit Lions. That kind of money backing an IPL franchise tells you everything about where the league sits on the global sports map right now.
Two mega-deals in one week
The Royals sale comes days after an Aditya Birla Group-led consortium bought Royal Challengers Bengaluru for $1.78 billion. Two franchises changing hands for a combined $3.4 billion in the same week is extraordinary, even by the IPL's inflated standards. It puts the league's total franchise valuation in a bracket alongside the world's richest sporting properties.
What it means on the pitch
The Royals open their IPL 2026 campaign on March 30 against Chennai Super Kings in Guwahati under new captain Riyan Parag. Whether the ownership change filters down to the playing squad remains to be seen, though reports have surfaced suggesting Somani may look to reshape the leadership group over time.
