Mittal-Poonawala Consortium Acquires Rajasthan Royals for $1.65 Billion
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.