Rajasthan Royals Ownership Row: Somani Consortium Alleges ‘Unfair’ Process, Eyes Legal Action

A consortium led by Karl Somani claims that ownership of the Rajasthan Royals franchise was “illegally snatched” from them. They are reportedly considering taking the matter to court.
The Somani consortium alleges they were excluded from the final stages of the ownership acquisition process. They have raised questions regarding the transparency of the bidding system, claiming they were at the top of the process for the majority of the time.
According to a report from March 24, the Somani group, the Walmart family (Rob Walton), and the Hedge family had jointly bid approximately $1.63 billion (around ₹15,000 crore) for the team.
It was confirmed last Sunday that the Mittal family (led by Lakshmi N. Mittal and Aditya Mittal) and the CEO of the Serum Institute of India, Adar Poonawalla, purchased the Rajasthan Royals for approximately $1.65 billion (around ₹15,660 crore).
There were reports suggesting the Somani-led group had withdrawn their bid, but the consortium has officially denied this claim.