Winning Bizness Desk
Mumbai.Rajasthan Royals changes hands in one of the biggest deals in IPL history, with the Mittal family stepping in as majority owners alongside Adar Poonawalla. The franchise has been valued at around 1.65 billion dollars, or ₹15,660 crore, making it the second biggest deal in the league so far. The acquisition brings together global business leaders and marks a new phase for the Jaipur-based team.
Deal value and ownership structure explained
The new ownership structure clearly defines stakes among key investors and partners.
- Mittal family secures about 75 percent stake in franchise
- Adar Poonawalla holds nearly 18 percent share
- Remaining 7 percent stays with Manoj Badale and existing investors
This structure ensures that while control shifts, some continuity remains within the franchise’s management and decision-making.
Earlier bid and deal background details
Before this deal, another major bid had emerged earlier this year. In March, a consortium led by US-based businessman Kal Somani had offered around ₹15,289 crore for Rajasthan Royals. However, that deal did not go through as the consortium later stepped back. The current agreement with the Mittal family eventually sealed the future of the franchise.
Global brand expansion beyond IPL team
Rajasthan Royals is no longer just an IPL team but a growing global cricket brand.
- South Africa franchise Paarl Royals included in deal
- Caribbean team Barbados Royals also part of ownership
- Brand now spans multiple international cricket leagues
This wider footprint adds significant value to the deal and reflects the franchise’s global ambitions.
Regulatory approvals and timeline for completion
The transaction is still subject to multiple regulatory approvals before it becomes final. The Board of Control for Cricket in India, IPL Governing Council and other authorities will need to clear the deal. Once approvals are in place, the process is expected to be completed by September 2026.
- Key approvals required from cricket governing bodies
- Final closing likely after all clearances are secured
Mittal family’s connection and cricket legacy
Lakshmi Mittal’s personal connection to Rajasthan adds a strong emotional angle to the deal. Born in Churu district, he has often spoken about his early love for cricket. He said joining Rajasthan Royals is a matter of pride and he looks forward to building on the team’s legacy and connecting with fans.
Team history, success and past controversies
Rajasthan Royals won the inaugural IPL title in 2008 under Shane Warne’s captaincy, setting a strong early benchmark. The team later reached the final in 2022 but lost to Gujarat Titans.
- IPL champions in 2008 under Shane Warne
- Runners-up finish in 2022 season
- Faced two-year ban after 2015 spot-fixing scandal
The franchise was suspended for the 2016 and 2017 seasons after co-owner Raj Kundra was found guilty of betting. It returned to the league in 2018 and has since worked to rebuild its reputation.
