Not a done deal yet? RR yet to be sold as new rival consortium makes fresh offer to compete with Kal Somani & Co.
The sale of the Rajasthan Royals IPL franchise is not yet finalized, as a new rival consortium has submitted a binding offer, challenging the previously announced $1.63 billion deal led by Kal Somani. The original buyer, Kal Somani & Co., is still involved but is now considering acquiring a smaller stake instead of full ownership. The franchise, originally bought for $67 million in 2008, has seen a significant valuation increase, with interest from multiple parties reflecting its growing market value.
- ▪A rival consortium has submitted a new binding offer to acquire the Rajasthan Royals, reopening the ownership race.
- ▪Kal Somani's group, which initially planned to buy 100% of the franchise, is now considering a minority stake.
- ▪The Rajasthan Royals were originally purchased for $67 million in 2008 and are now valued at $1.63 billion.
- ▪The Somani-led bid included high-profile partners such as Walmart heir Rob Walton and Detroit Lions owners Sheila Ford Hamp and Michael Hamp.
- ▪The BCCI auctioned IPL franchises in 2008, with the Royals being the cheapest team at the time.
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