Bhubaneswar, March 24 -- The ownership of Rajasthan Royals has officially changed hands, with a US-based consortium led by entrepreneur Kal Somani acquiring the franchise for a record-breaking $1.63 billion (Rs 15,286 crore). This deal marks a historic moment in IPL history, making Rajasthan Royals the most expensive franchise in the league.

New Ownership and High-Profile Backing

Kal Somani, the founder of IntraEdge, Academian, and Truyo.AI. led the consortium that has secured 100% ownership of the franchise. The group is also backed by American businessman Rob Walton of the Walmart family and Sheila Ford Hamp, who holds significant stakes in the Detroit Lions NFL team. This influx of high-profile investors is set to bring a fresh wave ...