The controversy surrounding the sale of Rajasthan Royals continues to intensify, with the Kal Somani-led consortium raising serious concerns over the transparency of the process after losing out on the franchise.
The group—comprising Kal Somani, Rob Walton, Jordan Walton, and Michael Hamp—issued a joint statement expressing disappointment after reports confirmed that the ArcelorMittal promoter family and Adar Poonawalla had acquired the team for USD 1.65 billion.
“We are deeply disappointed not to be part of the Rajasthan Royals ownership group, following a long six-month process in which we were the lead bid from start to finish,” the consortium said.
The group claimed it had consistently been the strongest contender throughout the bidding process, assembling a high-profile investment team with experience across major global leagues, including the NFL, MLB, EPL, La Liga, and TGL. They also stated that several globally recognised sports personalities were part of their consortium.
Addressing speculation around financial backing, the group firmly rejected claims that funding had been an issue.
“Contrary to stories planted in the press, our group was fully funded, prepared to close with certainty, and never withdrew our bid,” the statement read. “We had executed documentation in place and were informed that the franchise’s board meeting was being held to approve our consortium. In the end, this was not the case.”
The consortium further questioned the fairness of the process, suggesting the outcome did not reflect a level playing field.
“We do not believe the final outcome reflected a fair and transparent process. While we respect competitive results, decisions of this magnitude should be conducted with integrity, consistency, and in good faith,” it added.
Despite the setback, the group maintained a forward-looking approach.
“While this outcome is surprising and disappointing, we remain proud of our partners and the vision we share. Our belief in the global growth of sport remains strong, and we look forward to pursuing future opportunities where we can deploy our capital and expertise.”
The consortium concluded by wishing Rajasthan Royals success going forward, while reaffirming their commitment to long-term investment in global sports ventures.
