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The Indian Premier League (IPL) franchise, Rajasthan Royals (RR), are set for a landmark ownership transition after a consortium led by Lakshmi Mittal agreed to acquire a controlling stake in the team, valuing the franchise at approximately $1.65 billion (₹15,600 crore). The deal marks one of the most significant transactions in global cricket and reinforces the IPL’s position as a premium sports investment property.
The acquisition will see the Mittal family emerge as majority owners with an estimated 75 percent stake, alongside Adar Poonawalla, who will hold around 18 percent. The remaining seven percent will stay with existing shareholders, including Manoj Badale, who led the franchise’s previous ownership group and will continue to play a role during the transition.
Crucially, the transaction extends beyond the IPL. It includes the Royals’ stakes in Paarl Royals in South Africa’s SA20 competition and Barbados Royals in the Caribbean Premier League, giving the consortium a multi-league presence across three major T20 markets. This structure positions Rajasthan Royals as part of a broader, globally integrated cricket portfolio rather than a standalone franchise asset.
“The completion is subject to customary closing conditions, including approvals from the BCCI, the CCI, the IPL Governing Council and other applicable regulatory authorities, and is expected to occur in Q3 2026,” the joint statement said.
“My family is from Rajasthan, so there is no IPL team that I would rather be part of than the Rajasthan Royals. I first played cricket as a schoolboy, and since then I have been an avid fan of the sport. Many great players have worn the Rajasthan Royals shirts, including Indian icons of the sport who have been an inspiration for the younger talent. I look forward to being part of this great team, and cannot wait to join all the fans on the pitch-side to cheer on our future success,” Lakshmi Mittal said in the joint statement.
Adar Poonawalla added, “I am delighted to partner with Aditya Mittal on this investment. Rajasthan Royals is a premier IPL franchise with a strong legacy, and I look forward to supporting its continued growth and long-term success.”
“We are delighted to welcome the Mittal family and Adar Poonawalla as the new owners of the Rajasthan Royals. Their passion for cricket, their connection to Rajasthan and India, and their long-term ambition for the franchise make them ideal custodians of the next chapter. I very much look forward to working alongside them, and to supporting our extraordinary team and its loyal fans as the Royals continue to grow,” Manoj Badale said.
The agreement follows the collapse of a previously reported deal with a US-based investor group, underlining the competitive and complex nature of IPL franchise transactions. Despite that setback, sustained investor interest reflects the league’s accelerating commercial appeal and scarcity value.
The deal is subject to customary approvals from the Board of Control for Cricket in India, the IPL Governing Council and the Competition Commission of India, with completion expected in the third quarter of 2026.
Once finalised, the acquisition is expected to unlock new commercial opportunities and global synergies, signalling a shift toward multi-league ownership models and institutional capital in cricket’s evolving business landscape.
The post Rajasthan Royals set for ownership shift as Mittal Consortium secures majority stake appeared first on SportsMint Media.