Who is Indian-American businessman Kal Somani? Became the new owner of Rajasthan Royals

New Delhi. In a major change in the Indian Premier League (IPL), the consortium led by American tech businessman Kal Somani has agreed to buy 100 percent stake of Rajasthan Royals for $ 1.63 billion (about Rs 15,300 crore). The deal is believed to be one of the largest ownership transactions of the IPL, further strengthening the global strength of the league. Rajasthan Royals became the first IPL team whose value was estimated at more than 1 billion dollars. However, the change in ownership will take place after the IPL 2026 season.

Earlier the team was owned by Emerging Media Ventures, which is headed by British-Indian businessman Manoj Badale. Before the first season of IPL in 2008, this franchise was bought for only 67 million dollars, which was the cheapest team at that time.

Who is Kaal Somani?
Kaal Somani is a Scottsdale (US) based entrepreneur with over 15 years of experience in the fields of Artificial Intelligence, Ad-Tech and Data Privacy. He is the founder of IntraEdge and Truyo and is considered a leading voice in the field of AI governance. His influence in the sports world is also increasing rapidly. He is co-owner of Motor City Golf Club and has invested in emerging ventures such as TGL Golf League and TMRW Sports.

Somani's consortium is backed by several high-profile investors. These include Rob Walton, heir to the Walmart family and owner of the Denver Broncos. His net worth is estimated at more than $110 billion. Apart from this, Sheila Ford Hamp, associated with the Ford family, is also part of this group, who is the owner of the Detroit Lions. Somani, who has a strong hold in the fields of technology and sports, is expected to lead Rajasthan Royals towards a new, technology-based global strategy. In this, special attention will be given to branding, fan engagement and digital innovation. It is noteworthy that Somani has been associated with Rajasthan Royals since 2021 and he had earlier also expressed confidence in the long-term development of IPL.