IPL franchise Rajasthan Royals has been set to be acquired by a US-based consortium led by Kal Somani for USD 1.63 billion (approximately Rs 15,290 crore).
As per media reports, the Somani-led consortium has included Rob Walton from the Walmart family and members of the Hamp family, known for their association with Ford Motor Company. Somani, an Arizona-based entrepreneur, has founded companies such as IntraEdge, Truyo.AI and Academian.
Other contenders for the acquisition have included a consortium led by Times Internet, the Aditya Birla Group, and the Mittal family led by Aditya Mittal of ArcelorMittal.
