A consortium led by US-based entrepreneur Kal Somani has bought IPL franchise Rajasthan Royals (RR) for $1.63 billion (around ₹15,300 crore). Somani is the founder of IntraEdge, Truyo, Truyo.AI and Academian. The consortium also includes Walmart heir Rob Walton and the Hamp family. The franchise was previously majority-owned by Manoj Badale's Emerging Media Ventures with a 65% stake.