A consortium led by the Mittal family and Adar Poonawalla has signed a $1.65 billion agreement to acquire the Rajasthan Royals IPL franchise. The deal includes overseas teams and is expected to close in the third quarter of 2026 pending regulatory approvals.
The Mittal family, in partnership with Adar Poonawalla, is set to acquire a controlling stake in the Rajasthan Royals franchise for approximately $1.65 billion, including its global teams. The deal is expected to close in Q3 2026.
A consortium led by Lakshmi N Mittal, Aditya Mittal and Adar Poonawala has acquired the IPL franchise Rajasthan Royals along with sister entities Paarl Royals and Barbados Royals for approximately $1.65 billion. The Mittal family will own 75%, Poonawala 18% and existing investors approximately 7%, with the deal expected to close in Q3 2026 after regulatory approvals from BCCI and CCI.
A consortium led by Lakshmi N. Mittal, Aditya Mittal, and Adar Poonawalla has acquired the IPL franchise Rajasthan Royals along with sister entities Paarl Royals and Barbados Royals for approximately $1.65 billion. The Mittal family will own 75%, Poonawala 18%, and existing investors approximately 7%. The deal requires regulatory approvals from BCCI, CCI, and IPL Governing Council, expected to conclude in Q3 2026.
