Rajasthan Royals Become IPL's First Billion-Dollar Team!

The sale process of the Rajasthan Royals (RR) has finally been completed, and the franchise has (for the moment) become the most expensive team sold in the league's history. However, this record will not last long, as the sale process of the Royal Challengers Bengaluru (RCB) is also nearing completion.
As per a report a consortium led by Kal Somani has purchased a 100% stake in franchise. The America-based entrepreneur is backed by American businessman Rob Walton, who is heir to the Walmart family. Shields Hamp, who has significant stakes in the Ford family, is also part of the group that will now own the franchise. The new ownership will take charge of the franchise after the end of the 2026 Indian Premier League (IPL). As per the reports, the franchise has been sold for a whopping $1.63 billion (₹1528 crores approx). They are the first IPL side to be sold for over a billion dollars. RCB are set to be sold for a higher value than RR, with the bid value likely to touch $2 billion (Rs. 1875 crore approx.). Previously, Sanjiv Goenka's RPSG group had purchased Lucknow Super Giants (LSG) for $940 million (₹7090 crores approx. as per the exchange rate at that time in 2022). Although, it is worth noting that the Torrent Group purchased a 67% stake at Gujarat Titans (GT) for ₹5020 crores ($575 billion), which set the value of the franchise at ₹7500 crores ($858 billion). It is worth noting that Somani is already an investor in RR after an investment in 2021. The franchise was previously owned by Emerging Media Ventures, which is headed by British Indian businessman Manoj Badale.
The sale of RR is also the first instance of an IPL team being sold after the BCCI's bidding process. Royals was one of the eight franchises that played the first-ever IPL season. They were purchased by Emerging Media Ventures for $67 million (₹268 crores as per exchange at that time). They were the cheapest franchise sold by BCCI ahead of the inaugural edition.