Kal Somani has emerged as the central figure behind the IPL’s biggest off-field development just ahead of the new season starting March 28. The US-based entrepreneur has led a consortium to acquire the Rajasthan Royals for $1.63 billion, or over ₹15,000 crore, marking one of the most expensive franchise deals in the league’s history.
The deal will take effect after IPL 2026, even as the upcoming season gets underway, according to PTI.
Somani, who first invested in the franchise in 2021, fronted the winning bid with support from American businessman Rob Walton of the Walmart family and the Hamp family, closing out a competitive process that had drawn multiple high-profile contenders.
Who is Kal Somani?
As per his LinkedIn profile, Somani is a US-based entrepreneur with more than 15 years of experience across sectors, including ed-tech, artificial intelligence, sports technology, and data privacy. He is based in Scottsdale, Arizona, and has founded multiple ventures, such as IntraEdge, a technology services firm, and Truyo. He has also been involved in artificial intelligence governance initiatives.
Beyond cricket, Somani has investments across sports and technology. He is a co-owner of the Motor City Golf Club and has backed ventures such as TGL Golf League and TMRW Sports.
According to his LinkedIn profile, Somani described his ambition, “My focus is on building companies that deliver high-impact tech solutions while staying true to a mission of empowering people. Proud to partner with leading Fortune 100 and 500 organisations on this journey.”
Net worth and business profile
Somani’s net worth at more than $110 billion, placing him among the wealthiest sports owners in the United States, according to a TOI report.
Bet on IPL growth
Somani’s association with Rajasthan Royals dates back to 2021, when he first invested in the franchise. At the time, he had pointed to the league’s long-term prospects.
Marking his initial investment in the Rajasthan Royals, Somani had said, “We see huge potential with this investment, and we are excited for the future of the IPL.”
Bidding war and competing offers
The race for Rajasthan Royals intensified after the March 16 bid deadline, with multiple high-profile bidders in the fray. These included a Times Internet-led consortium, the Aditya Birla Group, and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
Reports said the Somani-led group edged out strong competition from an Indian multinational conglomerate that had partnered with American sports investor David Blitzer.
Earlier, the Royals’ board, chaired by Manoj Badale, had also turned down a $1.7 billion offer from Columbia Pacific Capital Partners, citing concerns over executability.
Separately, Bloomberg reported that Blackstone Inc was evaluating a potential investment of $200–300 million in either Rajasthan Royals or Royal Challengers Bengaluru, signalling growing global investor interest in IPL franchises.
