Rajasthan Royals Sale Sparks Controversy Over 'Uneven Playing Field'

A consortium led by US entrepreneur Kal Somani has raised concerns over the sale of the Rajasthan Royals franchise, criticizing the fairness of the bidding process. Despite leading through multiple stages, their $1.635 billion bid was narrowly surpassed by a group led by Lakshmi Mittal, winning at $1.65 billion.

A consortium guided by US-based entrepreneur Kal Somani has voiced serious concerns regarding the recent sale of the Rajasthan Royals cricket franchise. The group, prominent in global sports investment circles, expressed disappointment, arguing that the final decision did not offer a 'level-playing field' despite their competitive bid.

Announced on Tuesday, the franchise was ultimately sold to a consortium led by Indian-origin businessman Lakshmi Narayan Mittal and Adar Poonawalla for US$1.65 billion. This narrowly surpassed the Somani-led group's offer of $1.635 billion, leaving them questioning the integrity and fairness of the process.

The group has clarified that it remained the leader throughout the six-month bidding phase and strongly opposed reports of withdrawal or lack of funds. The decision, finalized during a weekend board meeting, has not been fully explained, with the new ownership pending regulatory approvals and set for completion by 2026.