gave Rajasthan Royals It was one of the eight original franchises that were auctioned. Board of Control for Cricket in India (BCCI) forward in early 2008 Indian Premier League (IPL), a city-based T20 competition. At the top was Mumbai Indians, fetched for $111.90 million, followed by Royal Challengers Bengaluru (RCB) for $111.60 million. were at the other end of the spectrum. Rajasthan RoyalsEmerging Media Group picked up for $67 million.The Manoj Badle-led group was a major investor in the Jaipur-based franchise, which won the inaugural edition of the IPL in 2008.Emerging Media increased its holding in the franchise from 51 percent to 65 percent in 2021. That same year, US-based RedBird Capital Partners bought a minority stake of about 15 percent for $37.5 million, valuing the team at about $250 million.The franchise was later owned and controlled by Emerging Media Group, Redbird Capital Partners, and Fox Corporation Chief Executive Lachlan Murdoch, among other minor stakeholders.During this period of increased ownership in 2021, Emerging Media IPL Limited raised funds from a number of individual investors, including Kal Somani, Ian McKinnon, Phil Jansen, Ron Kalifa, Ed Wray, Simer Mayo and Mihir Patel.“We see huge potential with this investment, and we are excited for the future of the IPL,” Somani said at the time.In late 2025 and early 2026, the Rajasthan Royals began the process of selling the franchise and asked for more than $1 billion.On March 24, after months of negotiations, a consortium led by Cal Somani, backed by American businessman Rob Walton of the Walmart family and the Hamp family of Ford Motor Co., bought 100 percent of the franchise for $1.63 billion.In absolute terms, the franchise has seen an increase in value of $1.563 billion over 19 years. This represents a 2,332.84 percent increase, or 24.33 times the original price paid by Emerging Media.Looking deeper, Rajasthan Royals has grown from $67 million (approx. Rs. 2,680 crore; $1 = Rs. 40) in 2008 to $1.63 billion (approx. Rs. 15,300 crore; $1 = Rs. 93.9) in 2026.
