Kal Somani group buys Rajasthan Royals for $1.63bn
A Kal Somani-led consortium has bought IPL franchise Rajasthan Royals for $1.63 billion, the deal confirmed on Monday, marking one of the biggest investments in cricket. The move reflects the IPL’s booming value and rising global interest in the league.
The group acquired a controlling stake after talks with existing owners, with plans to grow the franchise’s global presence. “We strongly believe in the IPL’s future and its global appeal,” Somani said, as quoted by Times of India. He added the focus will be on “taking the Royals brand to the next level.”
A franchise source said the transition would be smooth, noting, “The team has a strong base, and this opens new opportunities.” Experts also called the valuation a sign of the IPL’s rapid growth, saying it “continues to attract big investors worldwide.”
Rajasthan Royals, the 2008 IPL champions, now head into a new phase with fresh backing and bigger ambitions.