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Meet Kal Somani, The US-based Entrepreneur Who Bought The IPL Franchise Rajasthan Royals!
Motor City Golf Club: 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% stake in Rajasthan Royals for a record $1.63 billion (₹ 13,500 crore).
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.
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- 06 Feb 2021 04:31
