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Meet Kal Somani: Entrepreneur who bought Rajasthan Royals in historic IPL deal


The IPL witnessed a landmark moment on Tuesday (March 24) as a consortium led by US-based entrepreneur Kal Somani secured ownership of Rajasthan Royals (RR) in a record-breaking deal worth USD 1.63 billion (approximately ₹15,300 crore). This historic transaction makes the Royals the first IPL franchise to cross the billion-dollar mark, setting a new benchmark for valuations in the world’s biggest T20 league.

The scale of the deal reflects just how far the IPL has come as a global sporting powerhouse. What started as a domestic cricket tournament has now evolved into one of the most lucrative sports leagues in the world, attracting investors from across industries and continents. With this acquisition, Rajasthan Royals are no longer just a cricket team – they are now a billion-dollar sporting asset backed by global business heavyweights.

Interestingly, this isn’t Somani’s first association with the Royals. He had already invested in the franchise back in 2021, acquiring a minority stake. Even then, he had shown strong belief in the league’s potential, stating:

“We see huge potential with this investment, and we are excited for the future of the IPL.”

That early vision has now come full circle, as Somani steps in as the leading force behind the franchise’s new ownership structure.

Who is Kal Somani?

Kal Somani is a Scottsdale, Arizona-based serial entrepreneur with over 15 years of experience in the technology ecosystem. His career spans multiple high-impact sectors, including ed-tech, artificial intelligence governance, data privacy, and sports technology.

Among his most notable ventures is IntraEdge, a global technology services firm, along with Truyo and Truyo.AI-platforms focused on data privacy automation and AI governance. He has also been involved in the ed-tech space through Academian, further highlighting his diverse business interests.

But Somani’s ambitions go beyond technology. Over the years, he has been steadily building a presence in the sports world as well. He is a co-owner of Motor City Golf Club and an early investor in TMRW Sports, the venture launched by golf icons Tiger Woods and Rory McIlroy. He has also invested in the TGL Golf League, underlining his growing influence in global sports ventures.

Kal Somani (PC: X.com)

What truly elevates this deal, however, is the powerful consortium backing him. The group includes some of the most influential names in American business and sports ownership. Among them is Rob Walton, the heir to the Walmart empire and owner of the NFL’s Denver Broncos, widely regarded as one of the wealthiest sports owners in the United States.

Also part of the consortium is Sheila Ford Hamp, owner of the Detroit Lions and a key figure in the Ford Motor Company legacy. Together, this alliance combines expertise in technology, retail, and elite sports management – bringing a fresh and powerful dynamic to IPL ownership.

The franchise was previously controlled by British-Indian entrepreneur Manoj Badale through Emerging Media Ventures, alongside stakeholders like RedBird Capital Partners and Lachlan Murdoch. The sale process, managed by investment bank The Raine Group, had been in motion since late last year before culminating in this record deal.

Also READ: Ravichandran Ashwin names Rajasthan Royals’ probable XI for IPL 2026

A new era for IPL and global sports investment

While the agreement has been signed, the transition of ownership is expected to be completed after the IPL 2026 season. Once finalized, Somani and his consortium will officially take charge, ushering in what could be a transformative phase for Rajasthan Royals.

This acquisition is not just about ownership – it signals a shift in how IPL teams are viewed globally. With Somani’s background in artificial intelligence and sports tech, there is strong potential for innovation in areas like performance analytics, fan engagement, and data-driven decision-making. When combined with the sporting expertise of established American owners, the Royals could become a model franchise blending technology with elite sports management.

The ripple effect of this deal is already being felt across the league. Another major franchise, Royal Challengers Bengaluru (RCB), is reportedly nearing its own sale, with valuations expected to touch USD 2 billion. Interest from global investment giants further highlights the IPL’s growing stature as a premium sports property.

More importantly, this deal reinforces the IPL’s expanding international footprint. The league is no longer just an Indian phenomenon – it is now a global business platform attracting billion-dollar investments and top-tier investors from around the world.

Also READ: “Ravindra Jadeja at No. 4, no Sam Curran” – Suresh Raina predicts Rajasthan Royals’ playing XI for IPL 2026

 

 



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Delhi Capitals SWOT: Reinforced squad, balanced core – Can DC deliver? | Cricket News


Delhi Capitals SWOT: Reinforced squad, balanced core - Can DC deliver?
Ashutosh Sharma, Karun Nair, Prithvi Shaw and Mukesh Kumar (Image credit: Delhi Capitals/IPL)

The acquisitions made at the auction table have added depth to the Delhi Capitals squad. Here’s where they stand…

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Impact Player Rule: Game-changer or all-rounder killer?

Strength: Lower-middle order looks menacing. Addition of David Miller brings in experience. Tristian Stubbs, Ashutosh Sharma and skipper Axar Patel give DC enough firepower to unleash towards the end.Weakness: Inability to deliver in crunch situations, a major reason why they have made the final only once in 18 seasons. Uncertainty regarding Aussie pacer Mitchell Starc’s availability has compounded problems.Opportunity: Axar Patel has the chance to showcase his tactical acumen and present his case for Team India leadership.Threat: Mastering the Powerplay could prove to be a problem if KL Rahul’s opening partner is not sorted out. Will it be Pathum Nissanka, Prithvi Shaw or Abhishek Porel? Playing too sedately at the start may prove to be a deterrent.



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Stock market today (March 25, 2026): Nifty50 opens above 23,100; BSE Sensex rises over 700 points as oil goes below $100


Stock market today (March 25, 2026): Nifty50 opens above 23,100; BSE Sensex rises over 700 points as oil goes below $100
Stock market today (AI image)

Stock market today: Nifty50 and BSE Sensex continued their rally on Wednesday rising almost 1% in opening trade. While Nifty50 went above 23,100, BSE Sensex rose over 700 points. At 9:16 AM, Nifty50 was trading at 23,126.65, up 214 points or 0.94%. BSE Sensex was at 74,775.22, up 707 points or 0.95%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Hope is returning to the market with indications of deescalation in the conflict. Remarks from President Trump and from the Iranian regime indicate that the conflict might end soon. Particularly the reiteration from Iran that “non-hostile ships can transit the Strait of Hormuz” is good news that will mitigate India’s energy concerns. These positive geopolitical developments have reflected a sharp decline in Brent crude to around $98. The US 10-year yield also has declined. Gold has recovered. If this positive development sustains, there is room for a sharp rebound in the market. But if the recovery is to sustain FIIs should stop their big sustained selling, which, in turn, will require stability in the rupee. Yesterday’s 399 point recovery in the Nifty was caused more by short covering. In the near-term, mid and small caps can rebound more than large caps since there is no worry of significant FII selling in this segment.”Asian equities moved higher as optimism grew around Washington’s efforts to resolve the nearly month-long conflict in the Middle East. The dollar also weakened.US markets, however, saw choppy trading during Tuesday’s session, as investors weighed concerns over rising oil prices against hopes for a resolution to the conflict. This came even as reports indicated that additional American troops could be deployed to the region despite signs of diplomatic progress.Oil prices fell more than 5% on Wednesday on expectations that a potential ceasefire could ease supply disruptions from the key Middle East producing region, following reports that the US had presented Iran with a 15-point proposal to end the conflict.On the domestic front, foreign institutional investors remained net sellers, offloading shares worth Rs 8,009.56 crore on Tuesday, while domestic institutional investors provided some support by purchasing equities worth Rs 5,867.15 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)



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‘We negotiate with bombs’: US secretary of war Pete Hegseth’s warning to Iran as Trump talks peace


'We negotiate with bombs': US secretary of war Pete Hegseth's warning to Iran as Trump talks peace

US defence secretary Pete Hegseth has delivered one of the clearest signals yet of Washington’s approach to the ongoing war with Iran, saying: “We negotiate with bombs,” even as the White House insists diplomatic pathways remain open.Speaking as US and Israeli strikes continue across Iranian territory, Hegseth framed the military campaign as both decisive and historic. “Iran had a modern military, a modern navy, a modern air force, modern air defenses, leadership, massive bunker. Never has a modern military been so rapidly and historically obliterated, defeated from day one with overwhelming firepower,” he said. “The air campaign that we’ve conducted, that Israel has conducted alongside us, was one for the history books, truly.”US President Donald Trump has suggested progress is being made, but Tehran has denied any talks, even as intermediaries including Pakistan and Egypt attempt to open channels.Hegseth, however, made clear that military pressure is central to any outcome. “That’s why we see ourselves as part of this negotiation as well. We negotiate with bombs. You have a choice. As we loiter over the top of Tehran, as the President talked about your future, the President has made it clear that you will not have a nuclear weapon.”He linked the intensity of the campaign directly to Trump’s leadership, saying: “We have a President of the United States that when he sends his war fighters out to fight, he unties their hands to actually go out and close with and destroy the enemy as viciously as possible from moment one.”While US officials have quietly floated a 15-point framework to Iran through intermediaries, the situation on the ground continues to escalate. Fresh barrages have been reported across the region, and additional US troops, including Marines and airborne units, are being deployed to the Gulf.Hegseth dismissed comparisons with past conflicts. “This is not Iraq and Afghanistan. This is not a President who’s interested in vague end states. He’s been very clear with us about what we need to accomplish, creating the conditions for them never to have a nuclear capability.”He added that operations would continue without pause. “The War Department agrees our job is to ensure that. And so we’re keeping our hand on that throttle as long as hard as is necessary to ensure the interests of the United States of America are achieved on that battlefield.”



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Gold, Silver Rate Today Live Updates: Gold, silver prices up, precious metals rally strongly after crash as worries on US-Iran war ease; what should investors do?



Gold and silver prices rebounded sharply on Wednesday on the Multi Commodity Exchange of India after witnessing heavy selling in the previous two sessions. The recovery was aided by a softer dollar, while easing oil prices helped reduce concerns over inflation and the trajectory of global interest rates.

US President Donald Trump said that Washington and Tehran are “currently in negotiations” and indicated that Iran is keen to reach a peace agreement, although the country has denied engaging in any direct talks with the United States.

On the MCX, silver futures for May 2026 delivery rose by Rs 12,196, or 5.4%, to Rs 2,36,137 per kilogram. Gold futures for April 2026 delivery also advanced, gaining Rs 5,522, or 4%, to Rs 1,44,434 per 10 grams.



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Afghan fans ‘committed suicide’ after Asia Cup loss to Pakistan: Gurbaz recalls defeat that shook country | Cricket News


Afghanistan’s Fareed Ahmad, left, and Pakistan’s Asif Ali, right, react after Ali was dismissed by Ahmad during the T20 cricket match of Asia Cup between Pakistan and Afghanistan, in Sharjah, United Arab Emirates. (File photo/Agencies)

Afghanistan opener Rahmanullah Gurbaz has spoken about the impact of his team’s loss to Pakistan in the Asia Cup 2022, saying the defeat led to extreme reactions among fans back home, including incidents of suicide.Afghanistan opener Rahmanullah Gurbaz said he still finds it difficult to accept how his team lost that match at the Sharjah Cricket Stadium.

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Afghanistan cricketer on air strike by Pakistan, constant support from India

Pakistan needed 11 runs in the final over with one wicket left. Naseem Shah then hit Fazalhaq Farooqi for two sixes off the first two balls to take his side to victory.Gurbaz said the defeat had a strong impact back home. “For me, the most heartbreaking match was the loss against Pakistan in the 2022 Asia Cup. People back home were very hurt. Many people cried. Here, people committed suicide. We have many emotional people here. We also get hurt as we play for people here,” Gurbaz told Shubhankar Mishra.He said the memories of that game still affect him. “As I am talking to you about that match, I can still recall the sad memories. Whenever I walk into the Sharjah Stadium, I am reminded of that heartbreaking loss. I still think about how we lost that game, which we should have won. We didn’t bat well, but we bowled nicely. But in the end, we lost,” he added.In that match, Afghanistan scored 129/6 in 20 overs. Pakistan were 110/8 at one stage before a late effort from Asif Ali and Naseem Shah helped them win.Gurbaz also spoke about the rivalry between the two teams. He said it carries importance for fans in Afghanistan, even though he does not have personal issues with players from Pakistan.“We are cricketers. We play for people here in Afghanistan. Our happiness lies in our people’s happiness. If you ask people here about the most memorable game, they would tell you about the 2023 ODI World Cup win against Pakistan,” said Gurbaz.

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What element of a cricket match matters the most to fans?

“As a cricketer, I don’t have any personal grudges against any other cricketer. Our fans here want us to defeat Pakistan at all times,” he added.

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NZ vs SA, 5th T20I Match Prediction: Who will win today’s game between New Zealand and South Africa?



The stage is set for a thrilling series decider as New Zealand and South Africa head to Christchurch for the 5th and final T20I. With the series currently locked at 2-2, this match is a winner-takes-all encounter.

The series has been a rollercoaster of momentum. South Africa struck first with a dominant opening win, only for the Black Caps to roar back with consecutive victories to lead 2-1. However, the Proteas showed immense grit in the 4th T20I at Wellington, defending a target of 164 to level the scores.

Both squads are featuring several fresh faces following the 2026 T20 World Cup, providing a glimpse into the next generation of talent. New Zealand will look to their experienced leader James Neesham and the bowling of Ben Sears to clinch the trophy at home, while South Africa relies on the red-hot form of Connor Esterhuizen and the spin masterclass of captain Keshav Maharaj.

NZ vs SA, 5th T20I: Match details

  • Date and Time: March 25; 11:45 am IST / 6:15 am GMT / 7:15 pm Local
  • Venue: Hagley Oval, Christchurch

NZ vs SA, Head-to-Head Record in T20Is

Matches played: 24 | South Africa won: 14 | New Zealand won: 10 | No result: 0

Hagley Oval Pitch Report

The Hagley Oval is historically one of the most balanced decks in New Zealand, but it traditionally favors pace and bounce. Fast bowlers tend to dominate here, typically accounting for over 60% of the wickets. The morning/evening moisture often assists early swing. Teams winning the toss often prefer to bowl first, as the chasing side has historically found it slightly easier to navigate the conditions under lights.

Probable playing XIs

New Zealand: Tim Robinson, Katene Clarke, Dane Cleaver (wk), Nick Kelly, Bevon Jacobs, James Neesham (c), Cole McConchie, Josh Clarkson, Zakary Foulkes, Kyle Jamieson, Ben Sears

South Africa: Wiaan Mulder, Tony de Zorzi, Connor Esterhuizen (wk), Rubin Hermann, Dian Forrester, Jason Smith, George Linde, Gerald Coetzee, Keshav Maharaj (c), Ottneil Baartman, Nqobani Mokoena

Also READ: Connor Esterhuizen propels South Africa to series-leveling win over New Zealand in 4th T20I

NZ vs SA, 5th T20I: Today’s Match Prediction

Case 1:

  • New Zealand wins the toss and bowls first
  • South Africa’s powerplay score: 40-50
  • South Africa’s total score: 160-170

Case 2:

  • South Africa wins the toss and bowls first
  • New Zealand’s powerplay score: 50-60
  • New Zealand’s total score: 170-180

Match result: Team bowling first to win the contest.

Also READ: NZ vs SA T20I Series: Date, Match Time, Broadcast and Live Streaming details



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Oil prices today (March 25, 2026): Crude slips below $100 amid ceasefire hopes in Iran; Brent down 6%, WTI at $87


Oil prices today (March 25, 2026): Crude slips below $100 amid ceasefire hopes in Iran; Brent down 6%, WTI at $87

The Middle East crisis has stretched to its fourth week and oil prices have finally shown sign of relaxation, cooling off sharply on Wednesday. Fuel prices fell over 5%, giving back some of the gains from the previous session, as hopes of a possible diplomatic breakthrough in the Middle East raised expectations that supply disruptions might ease.The slide followed reports that the United States had put forward a 15-point proposal to Iran aimed at ending the ongoing conflict. US President Donald Trump said Washington and Tehran are “currently in negotiations” and suggested that Iran is eager to strike a peace deal, even as the Islamic Republic has denied holding any direct talks with the United States. He further added that in case the two nations agree to a deal to end the war, oil prices would “drop like a rock.”By 0058 GMT, Brent crude futures were down $6.21, or 5.9%, at $98.28 a barrel, after hitting a low of $97.57. US West Texas Intermediate crude futures fell $4.67, or 5.1%, to $87.68 a barrel, having earlier dropped to $86.72. The fall came a day after both benchmarks had climbed nearly 5% on Tuesday before retreating in volatile post-settlement trade. Meanwhile fuel prices also moved higher, with petrol climbing to a national average of $3.98 per gallon, according to the AAA motor club, marking a 34% rise since the war began. Diesel prices have surged even faster, reaching $5.35 per gallon, up 42% over the same period.Market participants appear to be adjusting positions amid slightly improved expectations of a ceasefire, leading to some profit booking. At the same time, uncertainty over the outcome of the proposed negotiations has kept the downside from deepening further.At the same time, supply concerns linked to the Strait of Hormuz remain unresolved. The conflict has disrupted flows through the key passage, which carries nearly one-fifth of global oil and liquefied natural gas shipments.International brokerage Macquarie told ET that even if tensions ease in the near term, oil prices are expected to hold firm in the $85–$90 range, with a gradual climb back towards $110 once normal flows through the Strait of Hormuz resume. It further cautioned that if disruptions continue through April, Brent prices could still rise to $150 per barrel.Looking ahead, the broader outlook points to further upside in crude. Kayanat Chainwala of Kotak Securities said prices could reach $120 per barrel in the near term and may even touch $150 if the conflict drags on.



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‘Bulls are being slaughtered for selfish reasons’: On farewell day, Devendra Fadnavis praises Uddhav Thackeray, Eknath Shinde takes dig | Mumbai News


Uddhav Thackeray and Eknath Shinde exchanged veiled remarks in the Maharashtra Legislative Council on Tuesday, as the Shiv Sena (UBT) leader was given a farewell marking the end of his term.

MUMBAI: Uddhav Thackeray and Eknath Shinde exchanged veiled remarks in the Maharashtra legislative council on Tuesday, as the Shiv Sena (UBT) leader was given a farewell marking the end of his term.Shinde initiated the farewell motion, addressing his former party chief as “Uddhav saheb Thackeray” and saying there are no full-stops in politics, while extending his wishes.The two leaders have avoided naming each other directly since their split in June 2022, when Shinde rebelled against Thackeray’s leadership, leading to the fall of the latter’s government.During his remarks, Shinde appeared to draw a contrast with Thackeray while speaking about deputy chairperson Neelam Gorhe, saying she was not born with a silver spoon in her mouth. Both Shinde and Gorhe had worked under the leadership of Bal Thackeray.In his response, Thackeray made a cryptic remark, saying, “Bulls are being slaughtered for selfish reasons.”The comment was seen as an oblique reference to a controversy involving self-styled godman Ashok Kharat, who was recently arrested for allegedly raping a woman on the pretext of performing rituals. Photographs of Shinde visiting a temple built by Kharat in Nashik had surfaced after the arrest.Leaders of the Sena (UBT) have also previously alleged that bulls were sacrificed at a temple in Guwahati when Shinde and his faction travelled to Assam following the 2022 split.The council also bid farewell to several other members, including Gorhe, Amol Mitkari, Shashikant Shinde, Rajesh Rathod, and BJP leaders Dadarao Keche, Sanjay Kanekar, Ranjeet Sinh Mohite-Patil and Sandeep Joshi.

Temperament was not like that of a typical politician: Fadnavis

Earlier, chief minister Devendra Fadnavis recalled his long association with Thackeray, dating back to their alliance when the undivided Shiv Sena and the BJP were partners.“We developed friendship. I will not say it is not there (now),” Fadnavis said.He added that Thackeray’s temperament was not like that of a typical politician.“Many a time he (Thackeray) is seen clashing, launching a strong attack, counter attack. But this is not his original temperament. His original temperament is measured and maintaining relations,” he said.In his farewell speech, Thackeray responded, “If you knew me so well then why did you hold someone else’s hand,” referring to the BJP’s alliance with Shinde after the 2022 split. Thackeray also called for the appointment of Leaders of Opposition in both houses of the state legislature, despite the opposition lacking the required numbers.The six-year term of the members ends in May, and the farewell took place on the penultimate day of the ongoing budget session.



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‘I want to apologise’: England batter Ben Duckett pulls out of IPL | Cricket News


'I want to apologise': England batter Ben Duckett pulls out of IPL

England batter Ben Duckett has pulled out of the Indian Premier League 2026, informing Delhi Capitals of his decision on Tuesday.Duckett, who was bought for Rs 2 crore at the auction, was in contention to open the batting alongside KL Rahul. However, he has decided not to take part in the season.His withdrawal could lead to a ban until the 2029 edition. This would mean he cannot enter the next two player auctions and will not be eligible to play in IPL 2027 and 2028.

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RCB’s big changes ahead of IPL: New rules, tribute & squad update

In a statement shared on Instagram, Duckett explained his decision.“I have made the extremely difficult decision to withdraw from the IPL. I have given this a lot of thought and it has not been an easy choice. Representing England is something I have dreamed of since I was a child, and I want to give everything I can to English cricket. To do that, I need to ensure I am in the best possible place physically and mentally ahead of the summer,” he wrote.“I would like to sincerely apologise to everyone at Delhi. I was genuinely very excited about the opportunity to represent the franchise, and I fully appreciate the time and planning that goes into building a squad. I am sorry for any disruption my decision may cause. I would also like to apologise to all the fans as I know how much it means to everyone in Delhi.”The decision comes after Duckett’s recent Ashes campaign, where he scored 202 runs in 10 innings at an average of 20.20.



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