Just when it seemed like the Rajasthan Royals (RR) ownership saga was settled, a dramatic new chapter has unfolded. The Kal Somani-led consortium, which was in advanced talks to acquire the franchise, is now considering legal action against RR — this just a day after the ₹15,660 crore takeover by the Mittal family and Adar Poonawalla came to light.
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The Deal That Wasn’t
The US-based Somani group is exploring its legal options after negotiations fell apart at the final stages. According to Cricbuzz, the consortium feels the process was not conducted fairly.
A source close to Somani didn’t mince words: “They slow-dragged it. They continued negotiations in good faith until the last second. With the Walton and Hamp families behind him, money was never an issue.”
The consortium — which included Walmart heir Rob Walton and the Hamp family of the Detroit Lions — was reportedly close to sealing a ₹15,300 crore deal before talks collapsed.
The source further alleged: “We had queries such as whether BCCI dues were paid. From our end we have been ready to close for 10 days. There was deliberate delay and then side dealings.”
Who Now Owns Rajasthan Royals?
The franchise — along with Paarl Royals and Barbados Royals — has been valued at ₹15,660 crore ($1.65 billion), with the Mittal family expected to hold around 75% stake and Adar Poonawalla owning 18%.
| Stakeholder | Approximate Stake |
|---|---|
| Mittal Family | 75% |
| Adar Poonawalla | 18% |
| Existing Investors (incl. Manoj Badale) | 7% |
The transaction is expected to close in Q3 of 2026, subject to approvals from the BCCI, the Competition Commission of India, and the IPL Governing Council.
The Badale Factor
One key subplot here is Manoj Badale. The Somani group was reportedly not in favour of Badale continuing in a significant role — which may have become a sticking point — while in the new Mittal-Poonawalla deal, Badale has been positioned as a bridge between the past and future of the franchise.
It’s a fascinating power play that goes beyond just money.
What Happens Next?
A formal communication could be sent to the BCCI, and the Somani group is still deciding whether to go public alongside pursuing litigation. This could put the BCCI — and by extension the IPL Governing Council — in an uncomfortable spot right in the middle of the season.
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