Sports
US tech entrepreneur Kal Somani buys Rajasthan Royals for $1.63bn
Kal Somani’s consortium, backed by Walmart and Ford money, completes a landmark takeover of one of the IPL’s most storied franchises
RAJASTHAN: The Rajasthan Royals have a new owner, and he comes with deep pockets, deeper connections, and a taste for sports that goes well beyond cricket.
A consortium led by Kal Somani, a US-based serial entrepreneur with an impressive footprint across the American tech ecosystem, has won the bidding war to acquire the Rajasthan Royals franchise outright, forking out $1.63bn (£1.2bn) for the privilege. The current owners had been shopping the franchise around for the better part of six months, seeking a full 100 per cent sale.
Somani does not arrive alone. Rob Walton, scion of the Walmart dynasty, is backing the deal, as is the Hamp family, which holds majority stakes in the NFL’s Detroit Lions. Sheila Ford Hamp brings further heft as part of the Ford family, which retains a significant stake in Ford Motor Company. This is old American money meeting new Indian cricket gold.
The buyer himself is no stranger to either boardrooms or playing fields. Somani is the founder and chief executive of IntraEdge, a technology services and solutions firm; Truyo and Truyo.AI, which specialise in data privacy rights automation and AI governance; and Academian, a major player in ed-tech and digital content. His pivot into sport began with a focus on sports technology but swiftly evolved into full-blown ownership. He is a co-owner of the Motor City Golf Club and was an early investor in TMRW Sports and the TGL Golf League, the tech-driven venture launched by Tiger Woods and Rory McIlroy.
Somani had first dipped his toes into the Royals’ pink waters in 2021. “We see huge potential with this investment, and we are excited for the future of the IPL,” he said then. That excitement has now translated into a $1.63bn cheque.
For a franchise that won the inaugural IPL title in 2008 and has spent years punching above its weight, this is a watershed moment. What began as a scrappy underdog story out of Jaipur is now a billion-dollar American asset, proof that the IPL has firmly arrived on the global sports investment map, and has no intention of leaving.
Sports
Origen Realty appoints Poulomi Ray as Chief Marketing Officer
Seasoned marketer with nearly two decades’ experience to drive brand strategy for upcoming Gurgaon integrated development.
MUMBAI: Origen Realty has just laid the perfect foundation for its next big chapter and this time the blueprint comes with a marketing masterstroke. The real estate developer has appointed Poulomi Ray as its new chief marketing officer. With close to two decades of experience shaping high-impact brand narratives across the sector, Poulomi brings deep expertise in consumer insights, market evolution and strategic storytelling to the role.
She will lead the company’s overall marketing and brand direction, focusing on visibility, differentiation and market engagement as Origen Realty advances its integrated development plans in Gurgaon, to be rolled out in multiple phases.
Origen Realty has a legacy of 3 plys decades in the construction business and is now entering a fresh phase of growth with this large-scale project.
Commenting on the appointment, Origen Realty Management said, “Poulomi’s appointment aligns with our focus on building a strong, future-facing brand. Her ability to combine strategy with execution will be instrumental as we take the next steps in our journey.”
Poulomi Ray added, “I am incredibly excited to be part of the core leadership team of Origen Realty. The foundation of the brand is built on a legacy of 3 plus decades in the construction business. Now, as we embark on a new journey of an integrated development in Gurgaon in a few phases, I look forward to contributing to the company’s growth through cutting-edge marketing strategies and tech integrations.”
Poulomi previously held key marketing roles at Signature Global, DLF Limited, Paras Buildtech, MGM International USA and Hilton Hotels, among others.
In the competitive real estate landscape, where every project needs a compelling story, Origen Realty has chosen a leader who knows how to build more than just structures, she builds lasting brand connections. With Poulomi at the helm, the company’s Gurgaon vision is set to rise with sharper focus, stronger visibility and a fresh narrative that buyers will remember long after the keys are handed over.
