NEW DELHI: With the IPL 2026 season about to begin, the biggest off-field story is the $1.63 billion (£1.2 billion) acquisition of Rajasthan Royals by a consortium led by American businessman Kal Somani. While Somani is a minority investor in the one-time IPL-winning franchise from 2021, the move marks a historic shift that makes the Royals one of the most valuable sporting properties in the world.
Watch
Gujarat Titans believe ahead of IPL 2026: ‘We are here to win, not participate’
Who is Kal Somani?
Kal Somani is best known as a serial entrepreneur with a deep footprint in the American tech ecosystem. He is the founder and CEO of several global giants, including IntraEdge (a leading technology services and solutions company), Truyo & Truyo.AI (pioneers in data protection automation and AI governance), and Academian (a major player in ed-tech and digital content).Its transition into sports began with a focus on sports technology, but quickly evolved into team ownership. Apart from the IPL, Somani co-owns the Motor City Golf Club and was an early investor in TMRW Sports (a tech-focused sports business founded by Tiger Woods and Rory McIlroy) and the TGL Golf League.READ ALSO: A consortium led by Kal Somani buys Rajasthan Royals for $1.63 billion
Who are in the consortium?
What makes this deal truly remarkable is the who’s who of global finance backing Somani. His consortium includes Rob Walton, heir to the Walmart fortune and owner of the NFL’s Denver Broncos.There is also The Hamp Family. It is headed by Sheila Ford Hamp, owner of the NFL’s Detroit Lions and a prominent member of the Ford Motor Company family.Somani’s vision for the Royals is rooted in a long-term belief in the growth of the IPL. He noted the league’s “enormous potential” for his initial investment in 2021.“We see huge potential in this investment and are excited about the future of the IPL,” said Somani.
