How Rajasthan Royals Are Set to Become the IPL’s First Billion-Dollar Franchise

Rajasthan Royals are on course to become the Indian Premier League's first billion-dollar team, a landmark moment that could fundamentally reshape how IPL franchises are valued and owned.

According to reports, the 2008 champions have attracted record-breaking bids after being put up for sale, with valuations comfortably crossing the billion-dollar mark. If the deal is finalised at the projected figures, it would make Rajasthan Royals the most expensive franchise transaction in IPL history and signal a new commercial phase for the league.

Who is paying a billion dollars to Rajasthan Royals?

The sale process, currently being overseen by Raine Group, began with a valuation floor of around $1.1 billion. Interest has since intensified, with multiple bidders progressing to advanced stages. One of the

leading offers is reportedly in the region of $1.3 billion, reflecting not just Rajasthan's on-field legacy but the explosive growth of the IPL's global commercial footprint, particularly media rights.

Rajasthan Royals are presently majorly owned by Emerging Media Ventures, the sports investment arm of Blenheim Chalcot, with Maonj Badale as the principal owner. RedBird Capital and Tiger Global currently hold minority stakes. A complete or partial sale at this valuation would mark the first time an original IPL franchise has changed hands at such a scale.

How does this affect the IPL?

What makes this moment significant is the broader context of IPL franchise economics. Since the league's launch in 2008, the original teams have largely remained under the same ownership. Even during expansion in 2022, when new teams entered the league, franchise valuations remained just under the billion-dollar threshold. Lucknow Super Giants and Gujarat Titans were acquired for substantial sums, but neither crossed the symbolic $1 billion line at the time.

Rajasthan Royals potentially doing so now reflects how dramatically the league's business has evolved. The IPL's long-term media rights deals, growing international viewership, and increasing interest from global private equity firms have pushed franchise values into a different bracket altogether.

The implications extend beyond Jaipur. A successful billion-dollar sale could immediately reset expectations across the league, particularly for marquee franchises. Reports suggest that Royal Challengers Bengaluru, one of the IPL's most commercially powerful teams, could be next in line for a sale, with valuations expected to be even higher.

If that happens, the IPL would officially enter a phase where franchises are no longer just sporting teams, but global sports assets comparable to elite clubs in European football and American leagues. Rajasthan Royals, once seen as an underdog franchise, may now be remembered as the team that quietly opened the billion-dollar door for the IPL.