The Rajasthan Royals are about to begin IPL 2026 as the sport’s most expensive franchise — but only briefly, because they were quickly overtaken by Royal Challengers Bengaluru just days later. Two landmark ownership deals happening almost simultaneously have signalled a new era in the economics of Indian franchise cricket.

The $1.63 Billion Sale

A consortium led by US-based tech entrepreneur Kal Somani has completed the acquisition of 100 per cent of Rajasthan Royals at a valuation of $1.63 billion — approximately Rs 15,286 crore. The deal makes it the most expensive franchise sale in IPL history at the time of completion.

Somani is the founder of Arizona-based companies IntraEdge, Truyo.AI and Academian. He is backed by two powerful American families — Rob Walton, heir to the Walmart retail empire, and Sheila Ford Hamp of the Hamp family, who hold majority ownership of NFL team Detroit Lions and have connections to the Ford Motor Company.

To put the number in perspective, commentator Harsha Bhogle noted that London Spirit, the most expensive team in The Hundred when a stake was sold, was valued at just $370 million. The RPSG Group paid roughly Rs 7,090 crore for Lucknow Super Giants in 2021 — the RR deal is more than double that figure.

The new ownership is expected to officially take over after the conclusion of IPL 2026.

RCB Tops That Almost Immediately

The RR deal did not hold the record for long. Within days, Royal Challengers Bengaluru — IPL 2025 champions — were acquired by a consortium led by Aditya Birla Group for around $1.8 billion (approximately Rs 16,916 crore), making RCB the costliest IPL franchise ever sold. That consortium also includes Times of India Group, David Blitzer’s Bolt Ventures and US-based Blackstone.

The two deals together reflect just how rapidly IPL franchise values have climbed. For context, the original eight franchises were bought in 2008 for a combined $723 million — roughly half the price of RCB alone now

RR’s On-Field Headache: Curran Out, Shanaka In

All of this business activity is happening around a squad that has taken a hit before the season even begins. England all-rounder Sam Curran, who was traded to RR ahead of IPL 2026 along with Ravindra Jadeja as part of the deal that brought Sanju Samson to Mumbai Indians, has been ruled out of the entire tournament with an injury.

RR have brought in Sri Lanka T20I captain Dasun Shanaka as a direct replacement, signed for Rs 2 crore. Shanaka, who pulled out of his PSL contract with Lahore Qalandars to make this move, brings considerable experience — 6 Tests, 71 ODIs and 131 T20Is, with over 3,350 international runs and 86 wickets to his name. He previously played for Gujarat Titans in the IPL.

Kumar Sangakkara, director of cricket and head coach at the franchise, summed up the situation.

“We are disappointed to lose a player of Sam’s calibre so close to the start of the season. Sam brings immense value with both bat and ball. However, we are pleased to have found an ideal replacement in Dasun Shanaka, a finisher with the bat and a quality all-rounder who helps maintain the balance of our side.”

RR open their IPL 2026 campaign against Chennai Super Kings on March 30.