Kal Somani Group says it never withdrew Rajasthan Royals bid, questions process

The Kal Somani Group has publicly questioned how Rajasthan Royals’ new ownership was decided, insisting that it never pulled out of the bidding.

The consortium’s statement

In a strongly worded statement, the group said it had been the leading bidder through a six-month process and was deeply disappointed to be left out of the final outcome. It cited its global investor network and experience in major leagues including the NFL, MLB, the EPL and La Liga.

It rejected talk about its financial readiness, saying it was fully funded throughout and never withdrew. The group also claimed that formal documentation was already in place and that it had been told a board meeting was coming at which its proposal would be approved.

The winning bid

The group had reportedly valued the deal at around $1.63 billion before it fell through. The Mittal-led consortium, which also includes Adar Poonawalla, secured the franchise at about $1.65 billion (₹15,660 crore).

The Kal Somani Group questioned the integrity of the selection process, suggesting the result did not reflect a level playing field, and called for more transparency in high-value franchise decisions. It said it still wants to invest in the IPL in future and wished the new owners success.

On the field

Rajasthan Royals are doing well in IPL 2026, with six wins from their first ten matches, fourth in the table and firmly in the playoff race.