In a move that has sent shockwaves through the global sports economy, the Rajasthan Royals (RR)* are entering a glitzy new era. A powerhouse consortium led by steel tycoon *Lakshmi Mittal* and vaccine visionary Adar Poonawalla* has officially reached a definitive agreement to acquire the franchise in a deal valued at a staggering $1.65 billion.
This isn’t just a change in the cap table; it’s a homecoming for the Mittal family and a massive vote of confidence in the future of the Indian Premier League (IPL).
A New Hierarchy at the Pink City
The ownership structure of the 2008 champions is set for a major overhaul once regulatory dust settles. Under the new agreement:
- The Mittal Family:Will take the lion’s share with a 75% stake.
- Adar Poonawalla: The Serum Institute of India CEO will hold approximately 18%.
- The Legacy Guard:Existing investors, including the face of RR’s leadership for years, *Manoj Badale, will retain a 7% stake.
Badale won’t be fading into the background, however. He is expected to act as a “bridge” between the franchise’s grassroots legacy and its high-octane future, ensuring the “Royals Way” of scouting and data-driven cricket remains intact.
Beyond Borders: A Triple-Crown Acquisition
This $1.65 billion valuation isn’t just for the Jaipur-based IPL squad. The deal is a package “Royals” deal, covering the brand’s expanding global footprint:
1. *Rajasthan Royals* (IPL)
2. *Paarl Royals* (SA20, South Africa)
3. *Barbados Royals* (CPL, Caribbean)
By acquiring the sister franchises, the Mittal-Poonawalla duo is securing a year-round presence in the world’s most lucrative cricket markets.
Personal Ties and Global Ambitions
For Lakshmi Mittal, the acquisition is deeply personal. Born in *Sadulpur, Rajasthan*, the ArcelorMittal Chairman noted that there is “no IPL team he would rather be part of.” His son, Aditya Mittal, and daughter, Vanisha Mittal-Bhatia, are also set to join the franchise board, signaling a long-term family commitment to the sport.
Adar Poonawalla, who has previously shown interest in other IPL teams, expressed his excitement about partnering with the Mittals to scale the “premier franchise” to new heights.
What’s Next?
While the pens have hit the paper, the deal still needs the green light from the BCCI and antitrust authorities. If all goes according to plan, the transaction will close by Q3 2026.
Post-completion, the board will be a “Who’s Who” of Indian industry, featuring Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale. Fans are already speculating: with this kind of financial muscle, will the Royals become the next undisputed “Galacticos” of the IPL?
