The Rajasthan Royals\u2019 ownership change is now formally in place. The franchise\u2014IPL\u2019s inaugural champions\u2014has been acquired by the Mittal Family in association with Adar Poonawalla. Lakshmi N Mittal and Aditya Mittal confirmed on Sunday that a binding agreement has been signed to take over the team, with the deal structured through a partnership involving Poonawalla, the previous owner Manoj Badale, and a consortium. The transaction is valued at roughly USD 1.65 billion.<\/p>\n
Under the updated ownership split, the Mittal Family will hold a 75% stake in the Royals, while Poonawalla is set to control about 18%. Badale and other existing investors will retain the remaining 7%. Badale will continue in a supportive role, bridging the franchise\u2019s past with its new chapter, and will also contribute his cricket know-how and experience to the organisation.<\/p>\n
The Rajasthan Royals board has also been restructured. It will include Lakshmi N Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Badale.<\/p>\n
The sale will proceed only after meeting standard closing requirements. That includes obtaining approvals from the BCCI, the CCI, the IPL Governing Council, and any other relevant regulatory bodies. The process is expected to be completed in the third quarter of 2026.<\/p>\n
Beyond their IPL presence, the Royals brand extends to other franchise leagues. The outfit also owns Paarl Royals in South Africa\u2019s SA20 and Barbados Royals in the Caribbean Premier League (CPL).<\/p>\n
In an official statement, the Mittal Family said: \u201cLakshmi N. Mittal and Aditya Mittal today announce that a definitive agreement has been reached to acquire the Rajasthan Royals, in partnership with Adar Poonawalla, from Manoj Badale and consortium.\u201d<\/p>\n
Earlier, the Rajasthan Royals were reported to be headed for acquisition by a US-based consortium led by Kal Somani. That group had submitted an offer of USD 1.63 billion, but the transaction could not be completed due to multiple complications.<\/p>\n
Lakshmi Mittal, who was born in Sadulpur in northern Rajasthan, said he has a deep love for the sport and is eager to be involved with the IPL. He added that his family\u2019s roots in Rajasthan make the Royals the natural fit. \u201cI love cricket, and my family is from Rajasthan, so there is no IPL team that I would rather be part of than the Rajasthan Royals,\u201d he said.<\/p>\n
Aditya Mittal underlined the franchise\u2019s reputation for nurturing fresh talent. \u201cThe Royals is well known for developing new talent – that resonates deeply with me, and we are determined that legacy will continue, harnessing the best of talent in the world for future success,\u201d he said. He also thanked those who built the franchise into a global sporting brand, adding: \u201cI want to thank everyone who has helped build the Rajasthan Royals into a global sporting institution – the players, coaches, leadership team, and above all, the fans.\u201d<\/p>\n
Adar Poonawalla, who had previously made bids for Royal Challengers Bengaluru (RCB), said he is pleased to partner with Aditya Mittal. \u201cI 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,\u201d he stated.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Rajasthan Royals\u2019 ownership change is now formally in place. The franchise\u2014IPL\u2019s inaugural champions\u2014has been acquired by the Mittal Family in association with Adar Poonawalla.…<\/p>\n","protected":false},"author":4,"featured_media":7142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"Rajasthan Royals Ownership Transfer: Mittals & Poonawalla Deal","_yoast_wpseo_metadesc":"Rajasthan Royals\u2019 ownership transfer is official: the Mittal family, with Adar Poonawalla, seals a $1.65B deal\u2014what it means for IPL fans.","footnotes":""},"categories":[2],"tags":[],"class_list":["post-7143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipl"],"yoast_head":"\n