Thursday May 14, 2026
Thursday May 14, 2026
Monday, 4 May 2026 05:07 - - {{hitsCtrl.values.hits}}
The Mittal family has reached a definitive agreement to acquire a controlling stake in the Indian Premier League (IPL) franchise Rajasthan Royals in partnership with Adar Poonawalla, the Economic Times of India reported.
The transaction, valued at about $ 1.65 billion, has been signed with current owner Manoj Badale and his consortium and is expected to close in the third quarter of 2026, subject to regulatory approvals including from the Board of Control for Cricket in India (BCCI), Cricket Club of India (CCI), and the IPL Governing Council.
Post-completion, the Mittal family will hold around 75% of the franchise, while Poonawalla will own about 18%. Existing investors, including Badale, will retain roughly 7%, with Badale expected to remain involved in a supporting role. The deal also includes ownership of Paarl Royals in South Africa and Barbados Royals in the Caribbean, marking the Mittal family’s entry into franchise cricket ownership as the IPL expands its global footprint.
