Kal Somani Acquires Rajasthan Royals in Historic IPL Deal

Kal Somani has made headlines by becoming the principal owner of the Rajasthan Royals after a record-breaking acquisition deal worth $1.63 billion. This historic transaction marks the first time an IPL team has been sold for over a billion dollars, reflecting the franchise's soaring valuation. Somani, who was already an investor in the team, is a seasoned entrepreneur with a portfolio of successful companies. He will officially take charge of the Royals starting from the 2027 season, while the current owners will oversee the 2026 season. Discover more about this significant development in the world of cricket and sports investment.

By Narendra Chaudhary Mar 24, 2026, 17:18 IST

Kal Somani Becomes Principal Owner of Rajasthan Royals

Kal Somani has officially taken the reins as the principal owner of an Indian Premier League (IPL) franchise. His consortium, which includes backing from Rob Walton of the Walmart family and Sheila Ford Hamp from the Ford family, has acquired the Rajasthan Royals (RR) for an unprecedented $1.63 billion (approximately ₹15,280 crores at current exchange rates). This transaction marks a significant milestone, as it is the first time an IPL team has been sold for over a billion dollars. The valuation of the Royals has skyrocketed 24 times since Emerging Media Ventures purchased them for $67 million (around ₹268 crores at that time).

About Kal Somani

Somani was already an investor in the Royals, having acquired a stake in the team back in 2021. At that time, he expressed optimism about the IPL's future, stating, “We see huge potential with this investment.” An entrepreneur based in the United States, Somani has founded several companies, including IntraEdge, a global technology services firm, Truyo, a privacy compliance platform, and Truyo.AI, which focuses on ethical AI governance. He is also involved in sports as a co-owner of the Motor City Sports Club and has invested early in TMRW Sports and TGH Golf League. On his LinkedIn profile, Somani emphasizes his commitment to creating impactful tech solutions while empowering individuals, stating, “Proud to partner with leading Fortune 100 and 500 organizations on this journey.” He will officially assume control of the Royals starting from the 2027 season, as the current ownership will manage the team through the 2026 season, scheduled from March 28 to May 31.