US EditionMittal Family to Acquire Rajasthan Royals for $1.65 Billion with Adar Poonawalla
The deal values the IPL franchise and its sister teams at $1.65 billion, with the Mittal family taking 75% and Adar Poonawalla 18%, officials said.
- On Sunday, Lakshmi N. Mittal and Aditya Mittal, in partnership with Adar Poonawalla, announced a definitive agreement to acquire the Rajasthan Royals from Manoj Badale and consortium for USD 1.65 billion.
- This transaction follows a failed bid two months ago by US-based investor Kal Somani, who sought to acquire a 100 per cent stake in the franchise for USD 1.63 billion.
- Ownership will be divided with the Mittal Family holding 75 percent and Poonawalla acquiring 18 per cent, while the USD 1.65 billion valuation encompasses the Rajasthan Royals men's franchise, Paarl Royals, and Barbados Royals.
- Badale will continue supporting the Royals, acting as a bridge between the past and present. This marks the second IPL franchise acquired this year, following Royal Challengers Bengaluru's sale for 16,660 crore.
- Completion is expected in Q3 2026, pending customary closing conditions including approvals from the BCCI, the CCI, the IPL Governing Council, and other applicable regulatory authorities.
30 Articles
30 Articles
Lakshmi Mittal, Adar Poonawala buy stake in Rajasthan Royals in Rs 15,660 cr deal
The two billionaires have formed a new consortium along with Manoj Badale, the current principal owner of the franchise, to own RR along with its sister franchises in the SA20 and Caribbean Premier League.
Rajasthan Royals acquired by Mittal family in association with Adar Poonawalla for USD 1.65 billion. Check full details
Rajasthan Royals acquired by the Mittal Family in association with Adar Poonawalla. Check the full details of the latest sale of the IPL franchise.
Mittal family buys 75% stake in Rajasthan Royals for $1.65 billion; Somani deal falls through - The Tribune
Industrialist Lakshmi N. Mittal and his son Aditya Mittal, along with Adar Poonawalla, have acquired a majority stake in Rajasthan Royals with a bid of approx Rs 15,600 crore after the Kal Somani Rob Walton Sheila Ford Hamp consortium pulled out of the race
IPL: Mittal family and Adar Poonawalla buy Rajasthan Royals in Rs 15,660 crore deal
Contrary to past reports, Steel giants the Mittal family and billionaire Adar Poonawalla have acquired Rajasthan Royals for Rs 15,660 crore. The sale of the champions of the inaugural edition of the IPL comes on the heels of record-breaking sale of Royal Challengers Bengaluru.
Coverage Details
Bias Distribution
- 56% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
