INR 15,660 crore Rajasthan Royals sale under scanner as Kal Somani consortium plans legal move

The Rajasthan Royals (RR) ownership saga is far from over. Just a day after the INR 15,660 crore takeover by the Mittal family and Adar Poonawalla came to light, a new twist has emerged. The Kal Somani-led consortium, which was earlier in advanced talks to acquire the franchise, is now considering legal action against RR.

As reported by Cricbuzz, the US-based group is exploring its options after the deal fell through at the final stages. From the outside, it looked alright that the Kal Somani-led consortium deal couldn’t go through and hence the Mittal family and Adar Poonawalla jumped to catch the fish.

Somani consortium considers legal action vs RR

According to Cricbuzz, the Somani group believes the process was not handled fairly from RR’s part and has already initiated internal discussions.

“We have had calls this morning with legal and PR in the USA. We are deciding on our PR. A legal letter will be sent today,” a source close to Somani said.

The consortium, which included Walmart heir Rob Walton and the Hamp family of the Detroit Lions, was reportedly close to sealing a INR 15,300 crore deal before negotiations broke down. While all the reports on Sunday suggested that the group failed to complete the payment within an agreed exclusivity window, the US side has pushed back strongly on that narrative.

“They slow-dragged it,” the source claimed. “They continued negotiations in good faith until the last second. With the Walton and Hamp families behind him, money was never an issue.” There also appears to have been a difference in vision regarding the future structure of the franchise. The Somani group was reportedly not in favour of Manoj Badale continuing in a significant role, which perhaps became a sticking point.

“We had queries such as whether the BCCI dues were paid. We wanted to know the status of legal cases. There were 100s of such questions. From our end we have been ready to close for 10 days. There was deliberate delay and then side dealings“.

The report further reports that a formal communication could be sent to the BCCI, and the group is still deciding whether to go public with the matter alongside pursuing litigation.

Mittal-Poonawalla deal still on track

Despite the noise around the collapsed deal, the new agreement involving the Mittal family and Adar Poonawalla remains in place for now. In fact, both the parties have shared releases on the internet.

The franchise, along with Paarl Royals and Barbados Royals, has been valued at INR 15,660 crore or $1.65 billion. The Mittal family is expected to hold around 75 percent stake, with Poonawalla owning 18 percent. The remaining 7 percent will stay with existing investors, including Manoj Badale, who is set to continue in a key role.

That continuity of Badale appears to be one of the major differences between the two bids. In the official communication around the new deal, Badale has been positioned as a bridge between the past and the future of the franchise. The transaction is expected to close in the third quarter of 2026, subject to approvals from the BCCI, the Competition Commission of India and the IPL Governing Council.