Mittal–Poonawalla Consortium Acquires Rajasthan Royals!

In a major development in cricket business, the Rajasthan Royals franchise has been acquired by a consortium led by Lakshmi N. Mittal, Aditya Mittal, and Adar Poonawalla for ₹15,600 crore. The previous bidder, the Somani consortium, reportedly withdrew after failing to arrange funds. The deal includes ownership stakes in Rajasthan Royals, Paarl Royals, and Barbados Royals, with the Mittal family holding 75%, Poonawalla 18%, and the remaining 7% with Manoj Badale and other investors. The transaction is expected to be completed by the third quarter, subject to approvals from Board of Control for Cricket in India, the IPL Governing Council, and other regulatory bodies.

Lakshmi Mittal expressed his emotional connection to Rajasthan, stating his passion for cricket and pride in associating with the franchise. Aditya Mittal highlighted Rajasthan Royals’ legacy of nurturing young talent and pledged to continue building a strong global team. Adar Poonawalla also welcomed the partnership, emphasizing long-term growth and success. Manoj Badale will continue to play a key role in guiding the franchise with his experience and cricketing insight.