A consortium led by U.S.-based entrepreneur Kal Somani has acquired a 100% stake in Rajasthan Royals at a valuation of $1.63 billion (₹15,286 crore), according to reports.

Founded in 2008 as one of the initial eight franchises, the Rajasthan Royals, also known as RR, is a professional Twenty20 cricket team that competes in the Indian Premier League (IPL) hosted annually by the Board of Control for Cricket in India (BCCI).

Somani, the founder of IntraEdge, Academian, and Truyo.AI, is backed by prominent U.S. investors, including Rob Walton of the Walmart family, and the Hamp family, which owns a majority stake in the Detroit Lions, according to reports. Sheila Ford Hamp is also a part of the Ford family that has a considerable stake in Ford Motor Company.

Prior to the transaction, the franchise was owned by Royals Sports Group, where Emerging Media, led by Manoj Badale, held a 65% stake, alongside investors such as RedBird Capital Partners and Lachlan Murdoch.

The development comes just days ahead of the start of the IPL 2026 season, which begins on March 28.

Somani, who is based in Scottsdale, Arizona, is not new to the franchise. He has been a minority investor in Rajasthan Royals since 2021. With over 15 years of experience across artificial intelligence, data privacy, and edtech, he has also been an angel investor in Upstox.

Beyond cricket, Somani has interests in golf and is a co-owner of the Motor City Golf Club, associated with global golf stars Tiger Woods and Rory McIlroy, who are co-founders of the club.

In a separate development, United Spirits Limited (USL) also announced today the sale of its entire 100% stake in Royal Challengers Sports Pvt Ltd (RCSPL). The stake will be divested to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s perpetual private equity strategy BXPE for a total consideration of ₹16,660 crore in an all-cash deal.

The deal marks the conclusion of a strategic review initiated by USL in November 2025. The transaction is subject to customary closing conditions and regulatory approvals, including those from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.

The consortium brings together players with complementary strengths across sectors. The Aditya Birla Group is among India’s largest conglomerates with a global presence, while The Times of India Group operates a wide media and cricket ecosystem. Bolt Ventures, led by David Blitzer, has investments across multiple global sports leagues, and Blackstone is one of the world’s largest alternative asset managers with $1.3 trillion in assets under management.