Rajasthan Royals Ownership Controversy: US Consortium Claims Foul Play
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A High-Stakes IPL Acquisition Sparking Controversy
The landscape of the Indian Premier League (IPL) is shifting rapidly, marked by massive financial transactions and high-profile ownership changes. Recently, the Rajasthan Royals (RR)—the inaugural champions of the league—made headlines following their acquisition by a group led by the Mittal family and entrepreneur Adar Poonawalla. The deal, which is set to be finalized over the coming months, was reported at a staggering valuation of INR 15,660 crore.
However, what was expected to be a straightforward transition has spiraled into a public dispute. A US-based consortium, which was actively involved in the bidding process, has hit out at the Rajasthan Royals’ leadership, claiming they were sidelined despite leading the process for months.
The Failed Bid: Who Was Involved?
The disgruntled group was spearheaded by Kal Somani, a prominent tech founder and investor. Somani’s consortium was not comprised of casual observers; it included heavyweights such as Walmart’s Rob Walton and Michael Hamp of the Sheila Ford Hamp group. Together, they formed a formidable team, aiming to inject their extensive experience in international sports management into the Jaipur-based franchise.
In a formal statement released following the announcement of the Mittal-Poonawalla deal, the trio expressed profound disappointment. They suggested that the process, which lasted six months, failed to provide an even playing field for all participants, despite their group leading the bidding from the onset.
Vision for Global Expansion
The consortium emphasized that their interest in the Rajasthan Royals was driven by a desire to propel the IPL to new international heights. Their confidence was rooted in their track record across various global sporting ecosystems, including the NFL, MLB, English Premier League (EPL), La Liga, and the TGL. By bringing this diverse expertise to the table, they felt uniquely positioned to elevate the brand value and operational excellence of the Royals.
It is important to note that the Mittal-Poonawalla acquisition covers more than just the Indian franchise. The deal includes control over the entire Rajasthan Royals ecosystem, including the Paarl Royals in South Africa’s SA20 and the Barbados Royals in the Caribbean Premier League. This transition comes on the heels of other major ownership shifts, such as the acquisition of the Royal Challengers Bengaluru (RCB) by a group led by the Birlas just before the 2026 IPL season.
Addressing the Funding Speculations
One of the most contentious points following the failed bid was the circulation of rumors regarding the consortium’s financial stability. Several media reports speculated that the deal collapsed due to a lack of funds or financial inability on the part of the US group.
Mr. Somani has explicitly refuted these claims, labeling them as “planted stories.” In their statement, the group maintained a firm stance: “Contrary to stories that have been planted in the press, our group was—and has always been—fully funded, prepared to close with certainty, and never withdrew our bid.”
The group claims they had executed documentation in place and were led to believe that a board meeting held on a Saturday would serve to finalize their ownership. To their surprise, that outcome never materialized. “We approached this process with the highest standards of honesty, integrity, professionalism and in good faith, but unfortunately, that wasn’t enough,” the statement concluded.
What Lies Ahead for RR?
As the dust settles, the focus shifts to how the new ownership group under the Mittals and Adar Poonawalla will manage the franchise. The accusations of impropriety from a high-profile bidder cast a long shadow over the transition, raising questions about transparency in IPL franchise sales moving forward. Whether these claims lead to further inquiries or simply remain a chapter in the history of a volatile IPL market remains to be seen. For now, the Rajasthan Royals enter a new era, though one clearly clouded by the controversy surrounding their change of hands.
