A consortium led by US-based entrepreneur Kal Somani has won the bid to own the Rajasthan Royals franchise. Somani has led enterprises in ed-tech, data privacy, AI governance and sports tech. Somani is the founder of global giants such as IntraEdge, Truyo, Truyo.AI and Academian.Somani is being backed by American businessman Rob Walton, of the Walmart family, and the Hamp family that also has majority stakes in NFL‘s Detroit Lions. Sheila Ford Hamp is also part of the Ford family that holds a significant stake in Ford Motor Company. The consortium is learned to have put in a bid of $1.63 billion (£1.2 billion).“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’s association with sports lies as the co-owner of Motor City Golf Club and was an early investor in TMRW Sports and TGL Golf League. The current owners of the Royals were in talks for the last six months for a 100% sale of the team.
