Hyderabad, May 3 (Maxim News): Rajasthan Royals ownership changes in a major development as the Rajasthan Royals franchise has been acquired by a consortium led by Lakshmi N Mittal family and Adar Poonawalla.
The deal, valued at $1.65 billion, ranks among the biggest in Indian Premier League history.
The announcement confirmed that the new investors will purchase the franchise from the consortium led by Manoj Badale. The transaction reflects rising valuations of IPL teams and strong global investor interest.
Rajasthan Royals ownership changes with new consortium
According to official details, the Mittal family will hold around 75 percent stake in the franchise. Meanwhile, Adar Poonawalla will own about 18 percent. The remaining 7 percent stake will stay with existing investors, including Manoj Badale.
Initially, a consortium led by US businessman Kal Somani had bid $1.63 billion. However, that deal collapsed due to funding issues and due diligence concerns. As a result, the Mittal led group entered the race and finalized the acquisition.
The agreement also includes ownership of other teams under the Royals brand. These include Paarl Royals in South Africa and Barbados Royals in the Caribbean league. Therefore, the deal covers a broader cricket portfolio beyond the IPL.
Following the takeover, a restructured board will oversee operations. It will include Lakshmi Mittal, Aditya Mittal, Vanisha Mittal Bhatia, Adar Poonawalla, and Manoj Badale. Badale will continue to play a key role and provide continuity with his experience.
The deal is expected to close by the third quarter of 2026. However, it remains subject to approvals from the Board of Control for Cricket in India, Competition Commission of India, and the IPL Governing Council.
This Rajasthan Royals ownership changes deal highlights the growing commercial strength of franchise cricket and signals further investments in global T20 leagues.(Maxim News)
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