Mittal–Poonawalla consortium buys Rajasthan Royals in $1.65 billion mega deal

The ownership landscape of Rajasthan Royals has undergone a major shift, with a high-profile consortium led by Lakshmi N. Mittal and Aditya Mittal joining hands with Adar Poonawalla to acquire the franchise in a deal valued at approximately $1.65 billion. The agreement, struck with existing owner Manoj Badale and his consortium, marks one of the biggest investments in franchise cricket. The valuation includes not only the IPL team but also its sister franchises, Paarl Royals in South Africa’s SA20 and Barbados Royals in the Caribbean Premier League, showcasing the brand’s growing global footprint.

Also Read । Wait ends for Smaran Ravichandran as Karnataka youngster makes IPL debut

As per the deal structure, the Mittal family will hold a dominant 75% stake, while Poonawalla will control around 18%. The remaining 7% stays with current stakeholders, ensuring continuity in leadership and operational expertise during the transition phase.

What this means for the Royals’ future

This acquisition follows a previously failed attempt to sell the franchise to a US-based investor group, reinforcing the sustained demand for IPL teams among global investors. The eventual success of the Mittal-led consortium highlights the league’s escalating financial and strategic appeal. The transaction remains subject to approvals from the Board of Control for Cricket in India, the Competition Commission of India, and the IPL Governing Council, with completion expected later in 2026.

Also Read । Narine enters elite list, powers KKR to commanding performance

For Rajasthan Royals, the inaugural IPL champions in 2008, this marks the beginning of a new era. With strong financial backing and international business expertise, the franchise is well-positioned to expand its competitive edge while continuing its legacy of identifying and developing young talent.