Rajasthan Royals sold for US$ 1.63 billion

Indian Premier League (IPL)’s inaugural champions Rajasthan Royals have been reportedly bought by US-based entrepreneur Kal Somani-led consortium has for $1.63 billion.

Media reports say that Somani is being backed by American businessman Rob Walton, of the Walmart group. A formal announcement is expected later in the day.

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