Rajasthan Royals\u2019 sale might have been treated as a done deal in public, but the process is far from settled in practice. Behind the scenes, there are indications that the Kal Somani-led consortium\u2014reported to have been on the verge of completing the purchase of the franchise for $1.63 billion before Sunday\u2019s latest development\u2014could be pushed into a legal fight it would prefer to avoid. A person close to Somani said the group has already been engaging legal and communications teams in the United States, and that formal steps are being prepared. \u201cWe have had calls this morning with legal and PR in the USA. We are deciding on our PR. A legal letter will be sent today,\u201d the source said.<\/p>\n
The same source suggested the consortium may also consider sending a written communication to the Board of Control for Cricket in India (BCCI). While the announcement of a sale has been made, the core deal appears to have broken down, and several explanations are being circulated for why it collapsed. The most prominent claim is that Somani was given a one-month window to complete the payment, but that he allegedly did not meet the requirement. At the same time, US-based contacts close to the consortium argue that much of the paperwork was still outstanding from the Royals management\u2019s side\u2014stating that roughly 90% of the documentation was not completed within the expected timeline. \u201cThey slow-dragged it,\u201d the source said, adding that discussions continued in a cooperative manner right up to the final moment. \u201cThey continued negotiations in good faith until the last second. With the Walton and Hamp families behind him, money was never an issue.\u201d<\/p>\n
Further concerns are also being raised around the role of the franchise\u2019s existing leadership. Sources say there were disagreements involving Manoj Badale, the current lead owner, particularly over whether he would remain in the future structure after the proposed takeover. The US group reportedly opposed keeping Badale in the new setup. Under the changes that had been described earlier in the day, Badale\u2014who has been associated with the franchise since its beginning in 2008\u2014was set to take on a key bridging responsibility. A joint statement released earlier said, \u201cMr Badale will continue to support Rajasthan Royals, acting as a bridge between the past and the present, and bringing his deep knowledge and experience of cricket to the franchise.\u201d<\/p>\n
With the takeover now in question, the Somani consortium is weighing whether to take the dispute into public view, knowing that litigation could follow. \u201cWe will discuss it with our group if we are going to go publicly on the matter since litigation will be involved,\u201d the source said. The source also pointed to specific doubts the consortium had raised during the process, including whether dues to the BCCI had been properly paid and the current state of any legal proceedings tied to the franchise. \u201cWe had queries such as whether the BCCI dues were paid. We wanted to know the status of legal cases. There were 100s of such questions. From our end we have been ready to close for 10 days. There was deliberate delay and then side dealings,\u201d the source added.<\/p>\n
Cricbuzz attempted to contact Manoj Badale to get his response to the allegations and the breakdown of the proposed transaction. The report will be updated if he issues a comment.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rajasthan Royals\u2019 sale might have been treated as a done deal in public, but the process is far from settled in practice. Behind the scenes,…<\/p>\n","protected":false},"author":4,"featured_media":7228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"IPL News: RR $1.63bn takeover sparks legal battle fears","_yoast_wpseo_metadesc":"Rajasthan Royals\u2019 reported $1.63bn takeover faces fresh uncertainty, with legal battle fears rising as the Kal Somani-led consortium\u2019s deal remains under scrutiny.","footnotes":""},"categories":[2],"tags":[],"class_list":["post-7229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipl"],"yoast_head":"\n