A major business deal involving the IPL (Indian Premier League) franchise, Rajasthan Royals (RR), has come to light. Led by industrialists Lakshmi Niwas Mittal and Aditya Mittal, the Mittal family has reached an agreement in partnership with Adar Poonawalla to acquire the Rajasthan Royals.
The total valuation of this deal is reported to be approximately US$ 1.65 billion (approximately ₹15,660 crore). This encompasses not only the team itself but also the South African franchise, Paarl Royals, and the Caribbean Premier League team, Barbados Royals. Earlier reports had suggested that a US-based consortium led by Kal Somani had acquired the Rajasthan Royals franchise; however, that deal never materialized.
Upon the completion of this transaction, the Mittal family’s stake will stand at approximately 75%, while Adar Poonawalla’s stake will remain at around 18%. The remaining stake approximately 7% will be retained by existing investors, including Manoj Badale. Badale will continue his association with the team and will continue to play a significant role within the franchise.
Approval has not yet been received from the BCCI
This deal has not yet been fully finalized. It is still awaiting approval from regulatory bodies, including the Board of Control for Cricket in India (BCCI), the Competition Commission of India (CCI), and the IPL Governing Council. It is expected that this process will be completed by the third quarter of 2026.
Following this deal, Lakshmi Niwas Mittal, Aditya Mittal, Vanisha Mittal Bhatia, Adar Poonawalla, and Manoj Badale will join the Board of the Rajasthan Royals. Speaking on the occasion, Lakshmi Mittal stated that he shares a deep connection with Rajasthan and that cricket is very close to his heart; therefore, there could be no better team than the Rajasthan Royals.
Meanwhile, describing the IPL as one of the world's largest sports leagues, Aditya Mittal expressed his immense excitement about becoming a part of this team. Adar Poonawalla also expressed his delight regarding this investment, noting that the Rajasthan Royals is a franchise with a strong legacy—and he looks forward to contributing to taking it forward.
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