A consortium led by US-based entrepreneur Kal Somani has won the bid for the property. Rajasthan Royals Franchise Somani has led businesses in Ad Tech, Data Privacy, AI Governance and Sports Tech. Somani is the founder of global organizations such as IntraAge, Truvio, Truvio.AI and Academician.Somani is backed by American businessman Rob Walton of the Walmart family and the Hemp family, which also owns a majority stake. The NFLDetroit Lines. Sheila Ford Hemp is also part of the Ford family, which holds a significant stake in the Ford Motor Company. The consortium is understood to have bid $1.63 billion (£1.2 billion).“We see huge potential with this investment, and we are excited for the future of the IPL”, Somani said in 2021 when he invested in Rajasthan Royals.Somani is associated with sports as co-owner of Motor City Golf Club and was an early investor in TMRW Sports and TGL Golf League. The Royals’ current owners had been in talks for the past six months to sell 100% of the team.
Who is Kal Somani?
Today, Somani is primarily known as a serial entrepreneur who has had a profound impact on the US tech ecosystem. He is the founder and CEO of several global companies, including IntraEdge (a leading technology services and solutions firm), Truyo & Truyo.AI (a pioneer in data privacy rights automation and AI governance), and Academician (a major player in the ed-tech and digital content space).Its transition into sports began with a focus on sports tech, but quickly morphed into team ownership. Beyond IPL, Somani co-owns Motor City Golf Club and was an early investor in TMRW Sports (a tech-focused sports venture founded by Tiger Woods and Rory McIlroy) and TGL Golf League.
