IPL 2026: Tech entrepreneur Kal Somani-led group wins $1.63 billion Rajasthan Royals bid

A consortium led by US-based entrepreneur Kal Somani has emerged as the winning bidder for the Rajasthan Royals IPL franchise, Times of India reported, marking one of the most high-profile ownership shifts in the Indian Premier League.

The group is learnt to have placed a bid of $1.63 billion (around £1.2 billion), underlining the soaring valuations of IPL teams and the continued global investor interest in the league.

Somani’s consortium is backed by prominent US investors, including Rob Walton of the Walmart family, as well as members of the Hamp family, which holds a controlling stake in the NFL’s Detroit Lions. Sheila Ford Hamp, part of the Ford family that has significant holdings in Ford Motor Company, is also part of the investor group.


The development follows months of discussions by the Royals’ current owners, who had been exploring a complete 100% sale of the franchise.

"We see huge potential with this investment, and we are excited for the future of the IPL", Somani had said in 2021 when he invested in Rajasthan Royals.

Somani, a serial entrepreneur with deep roots in the US technology ecosystem, has built multiple ventures across ed-tech, data privacy and artificial intelligence.

He is the founder and CEO of companies such as IntraEdge, Truyo, Truyo.AI and Academian. His foray into sports began through investments in sports technology before expanding into team ownership.

Beyond the IPL, he is a co-owner of Motor City Golf Club and an early investor in TMRW Sports—founded by Tiger Woods and Rory McIlroy—as well as the TGL Golf League. The acquisition highlights the increasing convergence of technology capital and global sports investments, as new-age entrepreneurs deepen their presence in marquee leagues like the IPL.