Industrialist Lakshmi N Mittal and his son Aditya Mittal, along with Adar Poonawalla, have acquired a controlling stake in the Rajasthan Royals for USD 1.65 billion. This ownership shift followed the exit of the Kal Somani-Rob Walton-Sheila Ford Hamp consortium. The Mittal family will hold a dominant 75% stake in the team, with Poonawalla owning approximately 18%. The deal includes not only the IPL team but also the Paarl Royals in South Africa and Barbados Royals in the Caribbean, expanding the group’s global cricket presence.
The acquisition is subject to regulatory approvals and is expected to be finalized by the third quarter of 2026. This move signifies the league’s growing valuation and international appeal, with the Mittal family expressing a personal connection to the team. Aditya Mittal highlighted the Royals’ reputation for nurturing young talent, aligning with their long-term vision. Poonawalla praised the franchise as a premier IPL brand with a strong legacy. With new capital and a high-profile ownership group, Rajasthan Royals are poised to enter a new phase that could reshape their position in the IPL and global T20 leagues.
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