Overview
- The owners advanced four consortia to the next round, including groups led by Kal Somani and Times Internet chairman Satyan Gajwani.
- A Somani-led consortium submitted a $1.3 billion preliminary bid, according to people familiar with the process.
- The offer is conditional on future IPL media-rights performance, underscoring how league revenue sharing shapes franchise valuations.
- Raine Group set an initial valuation floor near $1.1 billion and is managing a sale designed to restructure the club’s ownership.
- The Royals are majority-owned by Emerging Media Ventures with RedBird Capital Partners and Tiger Global as minority investors, while Blackstone and Carlyle have been reported as exploring team stakes.