India, March 24 -- A three-party consortium led by US-based businessman Kal Somani has acquired the bid to become the owner of IPL franchise, Rajasthan Royals, a report stated on Tuesday. The 2008 IPL champions have been acquired by Somani, who is backed by Rob Walton of the Walmart family and Sheila Ford Hamp, part of the Ford family, the report in Times of India stated.

Somani is the founder of global giants such as IntraEdge, Truyo, Truyo.AI, and Academian, which are ed-tech and AI governance, sports tech, among others. 

American entrepreneur, Rob Walton, of the Walmart family, is part of the consortium along with the Hamp family that also has majority stakes in the NFL's Detroit Lions, with the value of a staggering $1.63 billi...