'Deeply Disappointed': Kal Somani group breaks silence after RR ownership deal fell through

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'Deeply Disappointed': Kal Somani group breaks silence after RR ownership deal fell through originally appeared on Cricket News. Add Cricket News as a Preferred Source by clicking here.

KEY TAKEAWAYS:​

• Kal Somani group were in advanced talks to buy the majority stake in RR.
• Talks collapsed as RR will ultimately be sold to Adar Poonawalla and the Mittal group.
• Rajasthan Royals sale faces legal threat from Kal Somani-led US consortium.

Rajasthan Royals' talk with Kal Somani fell through​

In March 2026, it was reported that the current ownership of RR have reportedly agreed to sell the IPL franchise to tech entrepreneur Kal Somani. However, a little over a month later, reports emerged that the $1.63 billion agreement to hand over the Rajasthan Royals to a US-based consortium had fallen through.

Fresh reports suggested that the team will now be handed over to the Mittal family, who will buy a majority stake in the team and they will also be joined by businessman Adar Poonawalla.

According to MoneyControl, the Mittal family will own approximately own 75% of Rajasthan Royals, with Adar Poonawalla holding approximately 18%. The remaining 7% will be held by approved existing investors, including Manoj Badale.

MORE: Rajasthan Royals’ massive ROI after IPL franchise sale: Detailing RR's 2008 buy price vs 2026 valuation

Rajasthan Royals sale sparked legal storm​

Days after the deal fell through with Kal Somani, Cricbuzz reported that the Somani group had already begun urgent consultations with their legal team.

"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," said a source close to Somani to Cricbuzz.

It has been suggested that a formal letter may also be directed at the Board of Control for Cricket in India.

Both sides appear to be pointing fingers at each other over why the deal collapsed. The official version suggests that Somani failed to make payment within an agreed one-month exclusivity window, effectively voiding his position as the preferred buyer.

However, sources within the US camp painted an entirely different picture. They claimed that nearly nine-tenths of the paperwork was still pending from the Rajasthan Royals side, and that the franchise management deliberately stretched out the process.

"They slow-dragged it," said the source. "They continued negotiations in good faith until the last second. With the Walton and Hamp families behind him, money was never an issue."

MORE: RR sale controversy: Kal Somani group alleges irregularities

Kal Somani breaks silence after the RR deal fell through​

Now, on Tuesday, Cricbuzz once again reported that the Kal Somani-led US consortium has finally broken its silence on the matter and issued a statement to express its deep disappointment.

The formal statement read, "Unfortunately, that wasn't enough. 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. Our consortium worked tirelessly to assemble a distinguished group of investors, with ownership experience across the NFL, MLB, EPL, La Liga and TGL.

"Included in the group were select global superstars from the top tiers of professional sports. We were all motivated by the opportunity to help take the IPL to new international heights."

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