MC EXCLUSIVE: Former Rajasthan Royals Stakeholders Express Disappointment Over Ownership Group Exclusion

Disappointment and Disarray in IPL Franchise Sale

A consortium of investors led by Kal Somani, Rob Walton, Jordan Walton, and Michael Hamp has expressed deep disappointment and frustration following their failed bid to purchase the Rajasthan Royals Indian Premier League (IPL) franchise. The group, which had been the lead bidder throughout a six-month process, was informed that the franchise's board meeting on Saturday would approve their consortium.

However, the outcome took an unexpected turn, with the consortium ultimately being outbid by a group led by the Arcelor Mittal promoter family and Adar Poonawalla for a staggering $1.65 billion. This unexpected twist has left the consortium questioning the transparency and consistency of the bidding process.

According to a statement from the consortium, they had worked tirelessly to assemble a distinguished group of investors with ownership experience across various professional sports leagues, including the NFL, MLB, EPL, La Liga, and TGL. The group had also secured the support of select global superstars from the top tiers of professional sports, and were fully funded and prepared to close the deal.

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Despite their preparations, the consortium claims that they were misled about the progress of their bid, and were informed that the franchise's board meeting on Saturday would approve their consortium. However, this was not the case, and the Arcelor Mittal promoter family and Adar Poonawalla were ultimately declared the winners of the bid.

The consortium has expressed their disappointment and frustration at the outcome, stating that they had approached the process with the highest standards of honesty, integrity, professionalism, and in good faith. They have also questioned the transparency and consistency of the bidding process, and have called for greater accountability in the future.

Despite their disappointment, the consortium remains committed to their vision for the growth and development of sport, and is looking forward to channeling their energy and resources into future opportunities. They wish the Rajasthan Royals all the best for the future, and thank all those who were involved in the bidding process.

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