A major ownership dispute has erupted around Rajasthan Royals following its ₹15,600 crore takeover, with a rejected bidder alleging irregularities in the process.
The franchise was recently acquired by a consortium led by Lakshmi Mittal and Adar Poonawalla, marking one of the biggest deals in Indian Premier League history. However, the deal has quickly been overshadowed by claims of unfair treatment and lack of transparency from a rival group that missed out on ownership.
Dispute over bidding process intensifies
The rejected bid was spearheaded by US-based entrepreneur Kal Somani along with a group of international investors. The consortium has expressed strong disappointment after being excluded at the final stage, despite claiming it had been leading the race for nearly six months.
Also Read | Pathirana, Nissanka likely to miss IPL playoffs due to national duty
According to the group, suggestions that their proposal fell short financially are incorrect. They insist their bid was fully funded, compliant, and never withdrawn at any stage. The consortium maintains it had completed all formalities and was awaiting final approval before the ownership was awarded to the Mittal-Poonawalla group.
Transparency concerns and possible legal fallout
In a sharply worded response, the Somani-led group questioned the fairness of the process, stating that the outcome did not reflect a level playing field. It has called for greater transparency in high-value franchise transactions, especially in a globally followed league like the IPL.
The controversy has been fuelled by conflicting narratives. While some reports indicated funding concerns or a withdrawal from the race, the rejected bidders have denied both claims, reiterating their readiness to close the deal.
Also Read | Toss moment turns viral as Gill handles personal query calmly
With significant financial stakes involved, the matter could escalate further, including the possibility of legal action. The takeover itself is also subject to regulatory approvals before being fully finalised.The episode has cast a shadow over what was otherwise a landmark valuation in IPL history, bringing governance and procedural clarity in franchise deals into sharp focus.
