IPL 2026: New twist in Rajasthan Royals ownership after Somani Group’s ‘never withdrew bid’ claim

On May 03, it was approved that the Rajasthan Royals’ lion’s share of the ownership would be transferred to Lakshmi N Mittal and Aditya Mittal, in a partnership with Adar Poonawalla, as a strong agreement to acquire the franchise from the previous ownership of Manoj Badale and his group.

The Riyan Parag-led side is currently in fourth position of the points table in the Indian Premier League (IPL) 2026, earning six victories in 10 encounters at a net run rate of +0.510. They have a strong chance to qualify for the playoffs, but the recent form of just two wins in the last six clashes has affected them a lot.

What led to the dispute and how the ownership situation has evolved so far

The Mittal and Poonawala group acquired the inaugural champions of the league for US $1.65 billion (INR 15660 crore). The deal includes the ownership of Paarl Royals and the Barbados Royals, two other sides of the franchise in SA20 and CPL.

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But a development has come after Kal Somani, comprising owners of two NFL franchises- Rob Walton and Michael Hamp, son of Sheila Ford Hamp, owner of Detroit Lions- claimed that they were wronged in the bidding process, via a statement.

“We are deeply disappointed not to be part of the Rajasthan Royals ownership group, following a long six-month process in which we were the lead bid from start to finish. Our consortium worked tirelessly to assemble a distinguished group of investors, with ownership experience across the NFL, MLB, EPL, La Liga, and TGL.” The statement expressed as reported by RevSportz.

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“Included in the group were select global superstars from the top tiers of professional sport. We were all motivated by the opportunity to help take the IPL to new international heights. Throughout the process, we were the strongest group at every stage, competing against some of the most prominent investors across the sports investing landscape.” It addressed.

Possible implications for Rajasthan Royals amid ongoing IPL 2026 season

The consortium has claimed that it was fully funded. Mittal, who was born in Sadulpur, reckoned that he was elated to have the chance to take over the RR, whose primary home base has been in Jaipur. 

“Contrary to stories that have been planted in the press, our group was and has always been fully funded, prepared to close with certainty, and never withdrew our bid. We had executed documentation in place and were told that the franchise’s board meeting on Saturday was being held to approve our consortium. In the end, this was not the case.” The statement added.

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“We do not believe the outcome ultimately reflected a level playing field, and it is difficult to reconcile the strength of our bid and preparedness to close with the final decision. While this outcome is both surprising and disappointing, we view this experience as part of a broader journey.” It concluded.

What happens next? Key developments to watch in Rajasthan Royals ownership case

The acquisition has been carried out in partnership with the Serum Institute of India CEO, with it purchasing the franchise from Badale and the other investors. The deal would get completed in the third quarter of 2026, in which the Mittal Family will gets 75% stake while Poonawalla will earn 18%.

The remaining 7% will stay with the existing shareholders, including Badale. Now, post this claim of the Somani group, it would be interesting to see where the process reaches regarding the RR ownership.