Jaipur (Gurpreet Singh): In a transformative development for the Indian Premier League, steel magnates Lakshmi Niwas Mittal and Aditya Mittal have entered the world of professional cricket by securing a monumental acquisition of the Rajasthan Royals franchise. This significant transaction, which includes the participation of prominent business leader Adar Poonawalla, values the enterprise at an estimated $1.65 billion US dollars, or approximately 15,660 crore rupees. This deal represents one of the largest investment movements in the history of the league, reflecting the rapidly escalating global valuation of cricket as a premier sporting asset. Upon the completion of regulatory formalities, the Mittal family will hold a dominant 75 per cent stake in the franchise, while Adar Poonawalla will maintain an 18 per cent share. Long-time investor Manoj Badale and other existing partners are set to retain the remaining 7 per cent, with Badale expected to remain closely involved to ensure a seamless transition between the established and incoming management teams.
The scope of this acquisition extends well beyond the borders of India, as the Rajasthan Royals have successfully evolved into a sophisticated global cricket brand. The agreement encompasses the entire Royals Sports Group portfolio, which includes the Paarl Royals in the South African SA20 league and the Barbados Royals in the Caribbean Premier League. This multi-national presence was a key driver for the investors, providing them with a year-round footprint in the global T20 circuit and allowing for greater synergy across different markets. The new governing structure is designed to feature a high-profile board including Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale. This shift in ownership follows a previously reported but ultimately unfulfilled agreement with an American consortium, as the current deal eventually took precedence during the final negotiations.
While the commercial agreement has been reached, the finalisation of the sale remains subject to essential regulatory approvals from the Board of Control for Cricket in India and the IPL Governing Council. These administrative bodies will review the change in ownership to ensure full compliance with existing league frameworks and sporting regulations. Industry analysts expect the entire process, including the transition of operational control and the securing of all necessary certifications, to be completed by September 2026. This move is widely viewed as a significant endorsement of the league’s long-term commercial viability, as it brings in some of the most influential industrialist families in the world to lead one of the most recognisable and community-focused teams in professional sports.
