The Rajasthan Royal transaction sets a new benchmark for IPL franchise valuations  | Photo Credit: MURALI KUMAR K

Two marquee Indian Premier League (IPL) franchises have attracted record-breaking bids, underscoring the cricket league’s soaring valuations and global investor appeal.

Rajasthan Royals is set to be sold to a consortium led by US-based tech entrepreneur Kal Somani for a reported $1.63 billion, while Royal Challengers Bengaluru has been acquired by a consortium comprising the Aditya Birla Group, the Times Group, Bolt Ventures and Blackstone for $1.78 billion.

Analysts said this sets a new benchmark for IPL franchise valuations, receiving strong interest from global investors.

Walmart backing

For the Rajasthan Royals, the Somani-led consortium is backed by members of prominent American business families, including the Walmart family.

Somani’s business interests span tech solutions, data privacy and AI governance and edtech segments. He is the founder of IntraEdge, Truyo.Ai and Aca demian. He is an existing investor in Rajasthan Royals. He is also the co-owner of Motor City Golf Club.

Rajasthan Royals did not comment on the transaction, and businessline’s queries and text messages did not elicit a response till press time.

The deal will require BCCI approval and is likely to be formalised later this year, post the coming IPL season.

Birla team picks RCB

In a separate deal, Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone’s perpetual private equity strategy, BXPE, have signed a definitive agreement to acquire 100 per cent of Royal Challengers Bengaluru, encompassing both the men’s Indian Premier League franchise and the Women’s Premier League franchise, from United Spirits Limited, a subsidiary of Diageo plc.

Under the new ownership structure, Aryaman Vikram Birla, Director, Aditya Birla Group, will serve as Chairman and Satyan Gajwani of The Times of India Group will be Vice-Chairman of the franchise.

Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over the past two decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket, creating enormous value for India. RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.”

Santosh N, Managing Partner of D&P Advisory, said: “This development indicates a strong global investor interest in IPL franchises as an asset class. The supply-demand mismatch, with only so many IPL teams available to be invested in, has led to a high premium over intrinsic valuation.”

Karan Taurani, EVP, Elara Capital, said the RR deal sets a new benchmark for IPL franchise valuation.

Published on March 24, 2026