A dispute has arisen as the Mittal family and Adar Poonawalla took over the Rajasthan Royals IPL franchise, with the Kal Somani consortium asserting they were sidelined despite never withdrawing their bid. Initially set to acquire the team for a record USD 1.63 billion post the 2026 IPL season, Kal Somani found themselves excluded when the Mittals and Poonawalla finalized the deal.
The consortium, including Kal Somani, Rob and Jordan Walton, and Michael Hamp, expressed disappointment at being left out of the ownership group after a rigorous six-month process where they were the leading bidders throughout. Despite having a well-funded bid, the group was not approved in the end, leading to their exclusion from the Rajasthan Royals acquisition.
In response to reports of funding issues causing the deal to collapse, the consortium refuted such claims, emphasizing their readiness to close the deal and their adherence to high standards of integrity and professionalism. Expressing disappointment at the outcome, they stressed the need for transparent and fair processes in significant dealings like this, hinting at a lack of equity in the decision-making process.
The Mittal family, along with Adar Poonawalla, will now hold the majority stake in Rajasthan Royals, with Badale retaining a smaller share to provide continuity and cricket expertise to the franchise. Despite the setback, the Kal Somani consortium remains optimistic about future opportunities in the sports industry, highlighting their commitment to global sports growth and investment.
