Rajasthan Royals Acquired by Mittal Family and Adar Poonawalla for $1.65 Billion
Rajasthan Royals Sold To Mittal Family And Adar Poonawalla For USD 1.65 Billion
News 18
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A consortium led by Lakshmi N Mittal and Adar Poonawalla has agreed to purchase the Rajasthan Royals cricket franchise for approximately $1.65 billion. The deal is set to finalize in the third quarter of 2026, pending regulatory approvals. The Mittal family will hold 75% ownership, while Poonawalla will own about 18%.
- 01The Rajasthan Royals were sold for approximately $1.65 billion.
- 02The deal is expected to be completed in the third quarter of 2026.
- 03Lakshmi N Mittal will control around 75% of the franchise.
- 04Adar Poonawalla will own approximately 18%.
- 05Current owner Manoj Badale will remain in an advisory role.
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A consortium led by Lakshmi N Mittal, Aditya Mittal, and Adar Poonawalla has reached an agreement to acquire the Rajasthan Royals cricket franchise for about $1.65 billion. This acquisition includes associated franchises, Paarl Royals and Barbados Royals, and is set to conclude in the third quarter of 2026, pending necessary approvals from the Board of Control for Cricket in India and other regulatory bodies. Following the completion of the deal, the Mittal family will control approximately 75% of the franchise, while Poonawalla will own around 18%. Existing investors, including current owner Manoj Badale, will retain the remaining stake. Badale, who bought the franchise in 2008 for $67 million, will continue to participate in an advisory capacity. Lakshmi N Mittal expressed his enthusiasm for cricket and his family's ties to Rajasthan, emphasizing his excitement to support the team. Adar Poonawalla also highlighted the franchise's legacy and his commitment to its future success.
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The acquisition could lead to increased investment in the Rajasthan Royals, potentially enhancing team performance and fan engagement.
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