The Rajasthan Royals (RR) have achieved a unique feat becoming the first IPL team to be sold for more than 1 Billion dollars. The franchise has been sold for $1.63 Billion (roughly 15,280 Crores) which is the most expensive buy in the history of the league.

 

America based Entrepreneur Kal Somani led the consortium which bought 100% ownership of the franchise. The consortium also consists of Rob Walton, heir to the Walmart fortune and Shields Hamp who is a member of the Ford family. The owners will be taking charge from end of IPL 2026 onwards.

 

New Owners & Background of the Deal

 

Kal Somani is not a stranger to Rajasthan Royals as he had already bought a minority stake in the franchise in the year 2021. The franchise was previously owned by Emerging Media Ventures, led by Manoj Badale.

 

Rajasthan Royals were among the original 8 franchises of the IPL and were bought for 67 million dollars (approx. 268 Crores at that time) prior to the start of the first season in the year 2008 and were the cheapest IPL franchise at the time.

 

With this latest deal the Rajasthan Royals have seen a significant surge and is now the costliest IPL team for now.

 

Also Read | IPL Captains’ Meeting 2026: Major Rules and Topics to Be Discussed

 

Who is Kal Somani?

 

Kal Somani is a US-based businessman with experience in technology and business. He has been a CEO of businesses ranging from education tech to data privacy, AI governance and sports tech.

 

Some of his most well-known ventures include:

 

• IntraEdge


• Truyo


• Truyo.AI


• Academian

 

Somani's venture isbacked by significantglobal investors, including:

 

• Rob Walton from the family behind Walmart.


• The Hamp family, which owns a majority stake in Detroit Lions of the NFL.


• Sheila Ford Hamp, part of the Ford Motor Company.

 

When talking about his investment in RR, Somani earlier said:

 

"We see great potential in this investment, and we are excited for the future of the IPL".

 

Apart from cricket, Somani has also shown his interest in other sports businesses, as he co-owns the Motor City Golf Club and is also a very early investor in the TMRW Sports and TGL Golf League.

 

It’s a big deal in the world of Franchise Cricket and IPL, as Rajasthan Royals is the first IPL Franchise to be sold for $1 billion+. It’s a great sign of trust and support from global entrepreneurs and sports investors in IPL Franchises, as seen from the deal itself.

 

The formalities of the deal are expected to be completed after the culmination of IPL 2026, thus beginning a new era for the Royals.

 

Also Read | IPL 2026: Top Uncapped Players to Watch in Every Team

 

Sale of RCB Might Break the Record Soon

 

With the Rajasthan Royals setting the benchmark at 1 Billion Dollars, it is yet to be seen if the record lasts very long. The sale of the Royal Challengers Bangalore (RCB) is in the final stages.

 

As reported, RCB could be sold for around $2 Billion (approx. 18,750 Crores) and some prominent names are in the race including an Adtya Birla Group and David Blitzer led consortium along with a bid from Ranjan Pai.

 

For reference, Lucknow Super Giants was sold for 940 million dollars and Gujarat Titans were valued around 7,500 Crores after a stake sale in the franchise.

 

It reflects the pace at which the IPL business is growing and the values are expected to rise even more in the coming years with such investors coming on board.