US Consortium Slams ‘Unfair Process’ After Losing Rajasthan Royals Bid
US Consortium Claims “Unfair Process” After Losing Rajasthan Royals IPL Bid
In a dramatic turn of events following the acquisition of former Indian Premier League (IPL) champions Rajasthan Royals, a US-based consortium has broken its silence—claiming they were the leading bidders throughout a six-month-long process, only to be unexpectedly sidelined.
“We Were the Strongest Group”
The failed bidders—led by entrepreneur Kal Somani, Walmart heir Rob Walton, and Michael Hamp of the Sheila Ford Hamp group—released a strongly worded statement expressing deep disappointment over the outcome. Despite reportedly leading the bidding from start to finish, the consortium was ultimately not selected.
“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 bidder from start to finish,” the group stated, questioning the integrity of the sale process.
Experience and Vision for Global Growth
The consortium emphasized their expansive experience in global sports ownership, noting their collective ties to franchises in the NFL, MLB, English Premier League (EPL), La Liga, and the TGL (TGL golf league).
Their vision was clear: to elevate the IPL’s international footprint. “We were all motivated by the opportunity to help take the IPL to new international heights,” the statement read. The group had assembled a distinguished panel of investors with proven track records in transforming sports ventures on a global scale.
Final Approval Expected—But Never Came
According to the consortium, their bid was not only financially sound but also legally prepared. They claimed to have executed all necessary documentation and were led to believe that a board meeting held on Saturday would formalize their acquisition.
“We were told that the franchise’s board meeting on Saturday was held to approve our consortium. In the end, this was never the case,” the group revealed—an assertion that underscores their belief in a lack of transparency.
Debunking Funding Rumors
In the aftermath of the failed bid, speculation emerged that the US consortium lacked sufficient funding. Somani swiftly denied these claims, calling them “stories planted in the press.”
“Contrary to stories that have been planted in the press, our group was—and has always been—fully funded, prepared to close with certainty, and never withdrew our bid,” the statement clarified. They stressed their commitment and readiness to finalize the deal at every stage.
Mittal-Poonawalla Take the Helm
Meanwhile, the Rajasthan Royals are now officially under the ownership of the Mittal family and Adara Poonawalla, in a deal reportedly worth INR 15,660 crore. The acquisition also includes RR’s global franchise teams—Paarl Royals in the SA20 and Barbados Royals in the Caribbean Premier League.
The sale marks a significant shift in IPL ownership dynamics, with high-profile private investors continuing to show strong interest in league franchises. Shortly before this, Royal Challengers Bengaluru (RCB) was acquired by a Birla-led group ahead of IPL 2026.
A Call for Transparency
While the Mittal-Poonawalla consortium moves forward, the US group’s public statement raises important questions about due process and fairness in high-stakes sports acquisitions. With billions of dollars and global ambitions riding on IPL franchises, transparency in ownership bids may become a pressing issue for future sales.
As the dust settles, one thing is certain: the battle for Rajasthan Royals may be over, but the debate over how it was won has only just begun.
