Sports
US tech entrepreneur Kal Somani buys Rajasthan Royals for $1.63bn
Kal Somani’s consortium, backed by Walmart and Ford money, completes a landmark takeover of one of the IPL’s most storied franchises
RAJASTHAN: The Rajasthan Royals have a new owner, and he comes with deep pockets, deeper connections, and a taste for sports that goes well beyond cricket.
A consortium led by Kal Somani, a US-based serial entrepreneur with an impressive footprint across the American tech ecosystem, has won the bidding war to acquire the Rajasthan Royals franchise outright, forking out $1.63bn (£1.2bn) for the privilege. The current owners had been shopping the franchise around for the better part of six months, seeking a full 100 per cent sale.
Somani does not arrive alone. Rob Walton, scion of the Walmart dynasty, is backing the deal, as is the Hamp family, which holds majority stakes in the NFL’s Detroit Lions. Sheila Ford Hamp brings further heft as part of the Ford family, which retains a significant stake in Ford Motor Company. This is old American money meeting new Indian cricket gold.
The buyer himself is no stranger to either boardrooms or playing fields. Somani is the founder and chief executive of IntraEdge, a technology services and solutions firm; Truyo and Truyo.AI, which specialise in data privacy rights automation and AI governance; and Academian, a major player in ed-tech and digital content. His pivot into sport began with a focus on sports technology but swiftly evolved into full-blown ownership. He is a co-owner of the Motor City Golf Club and was an early investor in TMRW Sports and the TGL Golf League, the tech-driven venture launched by Tiger Woods and Rory McIlroy.
Somani had first dipped his toes into the Royals’ pink waters in 2021. “We see huge potential with this investment, and we are excited for the future of the IPL,” he said then. That excitement has now translated into a $1.63bn cheque.
For a franchise that won the inaugural IPL title in 2008 and has spent years punching above its weight, this is a watershed moment. What began as a scrappy underdog story out of Jaipur is now a billion-dollar American asset, proof that the IPL has firmly arrived on the global sports investment map, and has no intention of leaving.
Sports
IPL 19 records 96.8 ad index as advertisers and categories decline: TAM Sports report
Fewer categories and advertisers as tech and FMCG brands reshape IPL ad mix
NEW DELHI:Â The on-field action remains strong, but advertising activity during the Indian Premier League has shown a slight shift this season. A report from TAM Sports, a division of TAM Media Research, indicates that the first 13 matches of IPL 19 have recorded a marginal decline in commercial volumes compared to the same phase last year.
Indexed ad volumes stood at 96.8, down from 100 in IPL 18. The number of advertising categories fell from over 50 to 40, while the advertiser base reduced from 65 to 45. At the same time, the number of channels broadcasting the tournament declined from 28 to 25.
Mouth Fresheners emerged as the leading category, contributing over 14 per cent of total ad volumes. Ecom-Other Services and Ecom-Wallets followed, maintaining a strong presence during the early part of the tournament.
The technology sector has gained prominence this season. Google ranked as the top advertiser, accounting for over 13 per cent of ad share. The company focused on promoting its Google Search Engine and Google Gemini AI platform. In contrast, categories such as Ecom-Gaming and Cellular Phones-Smart Phones did not feature among the leading segments this year.
TAM Sports analyst Arjun Sharma said the decline in volumes reflects a more focused approach by advertisers, with fewer but more prominent players dominating the space.
The report also identified new entrants, with ten additional categories including Chocolates, Laptops/Notebooks, and Hair Care products. Among companies, Vishnu Packaging and Reliance Consumer Products remained key advertisers, while Havells India and K P Pan Foods continued to feature prominently.
Among brands, Vimal Pan Masala and Kamla Pasand Silver Coated Elaichi recorded high visibility, while Cadburys Dairy Milk Chocolate was among the notable new entrants.
With the tournament still underway, advertising activity may increase in the coming weeks as more brands look to capitalise on IPL viewership.
