The sale of Rajasthan Royals may have been formally announced, but the last word on the whole process may yet to be pronounced. There are strong indications that the deal could enter legal litigation, with the Kal Somani-led consortium - which was reportedly close to finalising the acquisition of the franchise for $ 1.63 billion before Sunday's development - may go for a legal recourse.
"We 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," said a source close to Somani, an Arizona-based businessman who was backed in his bid to acquire Rajasthan Royals by fellow American businessman Rob Walton of Walmart and the Hamp family, which owns the Detroit Lions. Sources say there may be a letter sent to the Board of Control for Cricket in India (BCCI).
It is evident that Rajasthan Royals' deal with him has fallen through, and multiple reasons are being cited for the collapse. The first and foremost is that he had a one-month exclusivity period to make the payment, which he apparently did not honour. However, sources in the US say that about 90 per cent of the documentation was pending from the RR management. "They slow-dragged it," said the source. "They continued negotiations in good faith until the last second. With the Walton and Hamp families behind him, money was never an issue."
Sources further say they had issues with Manoj Badale, the current lead owner, who wanted to remain in the new set-up - something the US group opposed. In the new arrangement with the Mittals and Adar Poonawala, Badale, who has been with the franchise since its inception in 2008, has an important role. The joint statement issued earlier in the day said: "Mr 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."
The group is considering whether they should go public on the fallout. "We will discuss it with our group if we are going to go publicly on the matter since litigation will be involved," said the source, adding, "We 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."
Cricbuzz tried to reach Manoj Badale for his response on the matter. The report will be updated if he comments.
