Major Ownership Change for Rajasthan Royals in IPL

Significant Shift in Rajasthan Royals Ownership

A major transformation is set to occur in the ownership of a prominent IPL team. Reports indicate that industrialists Lakshmi Niwas Mittal, Aditya Mittal, and the Poonawalla group have reached an agreement to acquire the Rajasthan Royals franchise for approximately $1.65 billion. An official announcement regarding this deal is anticipated soon.

It's important to note that this agreement extends beyond just the Rajasthan Royals; it also encompasses associated teams such as the Paarl Royals and Barbados Royals. According to sources, once regulatory approvals are secured, the Mittal family is expected to hold around 75% of the stake, while Adar Poonawalla will possess about 18%, with the remaining shares retained by current investors.

To finalize this deal, approvals from the Board of Control for Cricket in India, the Competition Commission of India, and the IPL governing council will be required. This process is projected to be completed by the third quarter of 2026.

Following this new ownership structure, changes in team management may also be on the horizon. Lakshmi Mittal, Aditya Mittal, Vanisha Mittal Bhatia, Adar Poonawalla, and current owner Manoj Badale are all likely to join the team's board.

Previously, another group attempted to purchase this franchise, but their efforts were unsuccessful due to funding issues and regulatory hurdles. Currently, the Rajasthan Royals are owned by Manoj Badale's company, which includes some foreign investors.

Experts believe that this deal reflects the growing economic impact and global appeal of the IPL. In the future, it could enhance the league's commercial potential and potentially influence the team's performance.