Kal Somani vs Lakshmi Mittal: Who is the Real Owner of Rajasthan Royals

The ownership battle for the Rajasthan Royals has taken a dramatic turn as the consortium led by Kal Somani, Rob Walton, and Jordan Walton officially broke their silence on the collapsed deal. In a strongly worded statement released on 5th May, 2026, the group expressed extreme disappointment, claiming they were fully funded and ready to close the $1.63 billion acquisition before the franchise's board pivoted to the Lakshmi Mittal-led offer.

By challenging the transparency and good faith of the process, the Somani group has turned a standard corporate sale into a public dispute over morality and equal opportunity. This latest development adds a layer of controversy to the Mittal takeover, raising serious questions about what really happened behind closed doors during the final hours of the Indian Premier League's most expensive franchise flip.

Kal Somani vs Lakshmi Mittal: Who Really Owns Rajasthan Royals?

The ownership of one of the best teams in IPL, Rajasthan Royals, has recently drawn renewed attention due to conflicting reports and evolving discussions around key business figures associated with the franchise. With names like Kal Somani and Lakshmi Mittal being mentioned in various contexts, questions have emerged regarding the actual control and stakeholding structure of the team. Read below to know about the deal and the comparison between these two business tycoons (Kal Somani and Lakshmi Mittal) in detail.

1. Kal Somani vs Lakshmi Mittal Net Worth Analysis

While Lakshmi Mittal net worth is a well-documented $21.4 billion, putting him among one of the wealthiest men in the world, on the other hand, Kal Somani net worth is estimated to be around $56.7 billion USD. Kal Somani's deal was backed by the Walton family (owners of Walmart). The Walton family's combined wealth exceeds $200 billion, making them the richest IPL franchise owners in history. However, despite this massive financial backing, the Somani group was unable to close the deal.

2. Stake and Ownership Structure of Franchise

As of May 2026, the Rajasthan Royals real owner is the Mittal family. They secured a dominant 75% stake in the team. They are joined by Adar Poonawalla, who holds an 18% stake. This leaves the original face of the franchise, Manoj Badale, with a minority share of just 7%. The Somani bid had proposed a similar majority takeover, but their "signed documents" were never approved by the board.

3. The Ownership Battle Between US Entrepreneur Kal Somani and Business Tycoon Lakshmi Mittal

The Kal Somani vs Lakshmi Mittal battle is defined by a new twist in the final hours of negotiation. Somani’s group released a statement on May 5, 2026, claiming they never withdrew their bid and were fully funded from start to finish. They have publicly questioned the integrity of the deal, suggesting that the decision to go with Mittal did not reflect fairness. While Lakshmi Mittal has officially acquired the franchise, the public disappointment from the Walton-backed consortium suggests that the controversy surrounding the Rajasthan Royals real owner may not be over just yet.