American Investors Acquire Rajasthan Royals in Record $1.63 Billion Deal

Key Points

• Rajasthan Royals sold for $1.63 billion - first IPL franchise to exceed $1 billion
• Consortium led by Kal Somani and former Walmart chairman Rob Walton
• Aditya Birla Group also part of the buying consortium
• Deal highlights growing value of IPL and cross-border investment in cricket

Full Details

American investors are making a significant entry into Indian cricket with two billion-dollar deals for Indian Premier League teams on the same day. The landmark transaction involves a consortium led by Kal Somani and Rob Walton, the former Walmart chairman, acquiring the Rajasthan Royals in a deal valued at $1.63 billion by Indian media. This represents the first time any IPL franchise has sold for over $1 billion, highlighting the massive growth and commercial value of Indian cricket. The consortium also includes the Aditya Birla Group, with chairman Kumar Mangalam Birla stating that "the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket, creating enormous value for India." The deal underscores the increasing intersection between IPL and Major League Cricket in the United States, where IPL franchises like Chennai Super Kings, Kolkata Knight Riders, and Mumbai Indians already own teams in the American T20 competition.