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Kal Somani, an existing shareholder in the Rajasthan Royals IPL team, has taken over the franchise, acquiring the Jaipur-based outfit for a whopping INR 15,000 crore making it one of the most expensive deals in sports history.Kal Somani is an Indian origin US based entrepreneur. Somani is the founder and CEO of Intra Edge, a technology and services firm based out of Arizona. He also founded Truyo, a data privacy and AI governance platform.Somani is also linked with angel investing in Upstox, which was once an IPL sponsor. Somani's consortium includes global backers like Rob Walton, the heir to the Walmart business. The Hamp family, owners of NFL franchise Detroit Lions, are also in the mix.He is expected to take over the reins after the 2026 season from UK-based Manoj Badale of Emerging Media.Hailing from Scottsdale, Arizona, Kal Somani, who is in his 50s, has interests in golf apart from cricket. He is one of the founders of Motor City Golf Club, which has an association with golfing legend Tiger Woods. His son, Arjun Somani, is a promising talent on the US junior circuit.Royal Challengers Bengaluru (RCB), who are also officially on sale, are close to their deal being completed. The parties interested are a consortium of Blackstone, Aditya Birla Group, and David Blitzer; a Ranjan Pai-led Manipal Consortium (including Kohlberg Kravis Roberts and Temasek); and Swedish private equity firm EQT. The RCB transaction, driven by Diageo-owned United Spirits' decision to conduct a ‘strategic review' of its ‘non-core' assets began in November 2025. Diageo had set March 16 as the final day for interested parties to submit binding bids to acquire the franchise.

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Raj Kundra, businessman and former owner of the Rajasthan Royals IPL team has claimed that the franchise cannot change ... ...

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