Rajasthan Royals Sale: Who Owns How Much Stake After Rs 15,600 Crore Deal?
The deal, which has met a "definitive agreement", has been locked for USD 1.65 billion (approximately Rs 15,600 crore).
- Lakshmi N Mittal and Aditya Mittal are set to acquire Rajasthan Royals in partnership with Adar Poonawalla
- The deal is valued at USD 1.65 billion including Rajasthan Royals, Paarl Royals, and Barbados Royals
- Mittal family will hold approximately 75% stake; Poonawalla 18%, existing investors 7%
Indian Premier League franchise Rajasthan Royals has been acquired by Lakshmi N Mittal and Aditya Mittal in partnership with Adar Poonawalla, from Manoj Badale and consortium. The deal, which has met a "definitive agreement", has been locked for USD 1.65 billion (approximately Rs 15,600 crore) after the Kal Somani-Rob Walton-Sheila Ford Hamp consortium pulled out of the race. This agreement also includes the enterprise value of Rajasthan Royals' men's franchise, Paarl Royals, and Barbados Royals. As per a PTI report, the deal is set to be finalised in the third quarter (Q3) of 2026.
"Lakshmi 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," a press release issued by Mittal family stated.
What will be the distribution of stake among the new owners of Rajasthan Royals?
Once the deal is completed, the Mittal family will own the majority stake, which would be around 75% of the Rajasthan Royals franchise. Adar Poonawalla will hold approximately 18%, while the remaining approximately 7% will be held by approved existing investors, including Manoj Badale, stated Rajasthan Royals in a press release.
The restructured Rajasthan Royals board will comprise Lakshmi N. Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla and Badale.
"Badale will continue to support Rajasthan Royals, acting as a bridge between the past and the present, and bringing his deep knowledge and experience of cricket to the franchise," the release stated.
In addition to the IPL team, Rajasthan Royals also owns Paarl Royals in South Africa and Barbados Royals in the Caribbean.
Lakshmi N. Mittal, who was born in Sadulpur in North of Rajasthan, said, "I 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." Mittal's son Aditya said: "The 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.
"I 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." Adar Poonawalla, who had earlier bid for RCB, said: "I 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."
Former principal owner Badale, who will still be a part of the decision making board, said: "We are delighted to welcome the Mittal Family and Adar Poonawalla as the new owners of the Rajasthan Royals. Their passion for cricket, their connection to Rajasthan and India, and their long-term ambition for the franchise make them ideal custodians of the next chapter."
(With agency inputs)
Rajasthan Royals