The Rajasthan Royals (RR) remain in demand. The inaugural Indian Premier League (IPL) champions, owned by Royals Sports Group, are up for sale. The current ownership structure is spread across multiple stakeholders. Manoj Badale’s Emerging Media Sporting Holdings Limited holds a 65 percent stake, RedBird Capital Partners owns 15 percent, and Lachlan Murdoch holds 13 percent. The remaining shares are split among individual investors.

Another bidder joins RR sale

As of last week, 4 parties were interested. Current investor Kal Somani formed a consortium with Rob Walton and made an offer of $1.3 billion (INR 11,956 crore approximately). Aditya Birla Group, with David Blitzer’s Bolt Ventures, is the supposed front-runner. Capri Global and Times of India Group are the other two.

But according to City AM, Sanjay Govil, owner of the Washington Freedom in the Major League Cricket (MLC) and co-owner of the Welsh Fire in The Hundred, is also interested and in the race to acquire RR. Govil had entered the franchise circuit in 2023 and just last year purchased 49 per cent of the Cardiff-based team.

It’s reported that RR recently turned down a $1.7 billion (INR 15,859 crore approximately) bid from private equity group Columbia Pacific Capital Partners, led by Nisha Sachdeva and Debjeet Gupta. Despite this latest development, Govil remains in the race.

Bidders interested in acquiring RR

• Kal Somani (with Rob Walton) – $1.3 billion offer
• Aditya Birla Group (with David Blitzer’s Bolt Ventures)
• Times of India Group
• Capri Global
• Sanjay Govil

Previously, Avram Glazer’s Lancer Capital had to pull out from the race to buy RR because of the Board of Control for Cricket in India (BCCI) rules, which bar a single entity from owning more than 1 franchise. Lancer Capital was in the running to acquire the Royal Challengers Bengaluru (RCB) but withdraw interested later.

6 month wait for ownership change

In normal circumstances, ownership transfer dialogue takes about 30 to 45 days. But the current owners of the RR aren’t in a hurry. Unlike RCB, they haven’t set a deadline for discussion. The ownership change won’t be completed until the BCCI approves the sale. That can’t happen before October 2026, when the board holds its AGM (annual general meeting). Last year, the BCCI’s AGM took place on September 28 in Mumbai.