Rajasthan Royals sold for Rs 15,000 crore to US-based entrepreneur: Report

A US-led consortium has reportedly acquired Rajasthan Royals for USD 1.63 billion, setting a new benchmark in the Indian Premier League. Meanwhile, bidding for RCB intensifies, with valuations expected to cross USD 2 billion following their historic 2025 title and massive global demand.

The Indian Premier League (IPL) landscape has undergone a seismic shift just days before the 2026 season opener. In a landmark deal that resets the valuation of mid-tier franchises, a majority stake in the Rajasthan Royals (RR) was acquired by a high-powered consortium led by US-based entrepreneur Kal Somani for a staggering $1.63 billion (approx. Rs 15,000 crore), according to The Times of India.

The deal, overseen by the global investment bank Raine Group, comes after weeks of intense bidding. Somani, a serial tech entrepreneur with deep roots in sports data and AI, was already a minority investor in the franchise. However, this new acquisition, backed by heavyweights including Rob Walton of the Walmart family and the Hamp family (owners of the NFL's Detroit Lions), marks one of the largest private equity entries into Indian sports to date.

The sale process reached a fever pitch following the March 16 bid deadline. According to reports from The Sunday Guardian and Moneycontrol, the Somani-led group beat out stiff competition from an Indian multinational conglomerate, which had partnered with American sports tycoon David Blitzer.

While the Royals' board, chaired by Manoj Badale, had recently rejected a $1.7 billion offer from Columbia Pacific Capital Partners (CPCP) due to executability concerns, the Somani bid offered the strategic alignment and financial immediacy the franchise sought.

With the Rajasthan sale setting a new price floor, market analysts now expect the RCB valuation to comfortably breach the $2 billion mark. Current owners Diageo, operating through United Spirits, have set an aggressive March 31 deadline to finalise the transaction. Industry insiders suggest that RCB's immense brand equity and digital footprint allow it to command a premium of at least 15 percent to 20 percent over the Royals.

The race for the Bengaluru franchise has narrowed down to a few heavyweight contenders after initial interest from the Glazer family and Adar Poonawalla cooled, according to MoneyControl.