The battle for ownership of the Rajasthan Royals has taken a dramatic turn as the ousted US-based consortium, led by Kal Somani and including Walmart heir Rob Walton, Jordan Walton, and Michael Hamp, has issued a scathing rebuttal to the recent acquisition announcement by the Mittal Family and Adar Poonawalla. The consortium denies reports that their bid collapsed due to financial hurdles, stating that they were fully funded and ready to close the deal. They also questioned the transparency of the sale process managed by current majority owner Manoj Badale. Despite their disappointment, the consortium views this as part of a broader journey into the global sports economy.
Meanwhile, the Rajasthan Royals are set to enter a new ownership phase with the Mittal-Poonawalla combine holding a dominant 75% stake in the franchise. Adar Poonawalla will acquire an 18% share, while Manoj Badale will retain a 7% minority stake and continue as a board member. The deal, which also includes sister franchises Paarl Royals and Barbados Royals, is expected to be finalized in Q3 2026 pending approvals from the BCCI and other regulatory authorities.
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