US Consortium Clinches $1.63 Billion Deal for Rajasthan Royals

The Rajasthan Royals, an esteemed franchise in the Indian Premier League (IPL), is on the brink of being acquired by a US-based consortium led by tech entrepreneur Kal Somani. The consortium features notable names such as Rob Walton of the Walmart family and members of the Ford family.

The deal, valued at a substantial USD 1.63 billion, equates to approximately Rs 15,290 crore, reflecting the IPL's meteoric rise as a global sports brand. British-Indian Manoj Badale, who currently holds a 65% stake, is set to cede ownership pending approval from the Board of Control for Cricket in India (BCCI).

This proposed transaction underscores the IPL's burgeoning economic success, with parallels drawn to the sale of other franchises like the Lucknow Super Giants. Experts anticipate a formal announcement imminently, as the value surrounding such transactions continues to propel upward.