Rajasthan Royals have new owners. US-based entrepreneur Kal Somani, who was already a shareholder in the franchise, has acquired the Jaipur-based IPL team for around USD 1.6 billion. His consortium, which includes Walmart, has picked up a full 100 percent stake in the Royals.
The Times Group was also in the race but finished as the runner-up. This is one of the biggest ownership deals in IPL history and comes just days before the 2026 season kicks off.
Who is Kal Somani?
Somani is based in Scottsdale, Arizona, and is in his 50s. He is a serial entrepreneur with interests across sports technology, data privacy, AI governance, and education. He is the founder of companies like IntraEdge, Truoy, Truyo AI, and Academian. Beyond cricket, Somani has strong ties to golf.
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 golf circuit. Somani’s consortium is backed by American businessman Rob Walton of the Walmart family and the Hamp family, which holds majority ownership in the NFL’s Detroit Lions. The Hamp family also has ties to the Ford Motor Company.
What happens next?
The ownership change will not take effect right away. Current owner Manoj Badale of UK-based Emerging Media is expected to continue in charge through the IPL 2026 season.
Somani will formally take over the reins after that. Rajasthan Royals, one of the original eight IPL franchises and the first-ever champions back in 2008, will begin their 2026 campaign against Chennai Super Kings on March 30.
