Rajasthan Royals sold to Mittal family for ₹15,660 crore ahead of RR vs DC IPL 2026 clash
Rajasthan Royals have been reportedly sold to the Mittal family for ₹15,660 crore ahead of their IPL 2026 clash vs Delhi Capitals.
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A significant development has emerged in the IPL ecosystem, with Rajasthan Royals set for a change in ownership in a landmark transaction valued at approximately ₹15,600 crore ($1.65 billion), making it one of the most notable franchise deals in cricket history amid IPL 2026.
Industrialist Lakshmi N. Mittal and his son Aditya Mittal have reportedly acquired a majority stake in the franchise. The consortium also includes Serum Institute of India’s Adar Poonawalla, along with current lead owner Manoj Badale. This development follows the withdrawal of the Kal Somani–Rob Walton–Sheila Ford Hamp consortium from the bidding process.
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The Mittal-led group is expected to assume controlling interest from the existing ownership group, subject to regulatory approvals from the BCCI, the IPL Governing Council, and the Competition Commission of India. The completion of the transaction is anticipated later in 2026.
The Ownership Breakdown
Following the completion of the deal, Rajasthan Royals will see a revised ownership structure, with the Mittal family set to hold approximately 75% of the franchise. Adar Poonawalla will acquire around 18%, while the remaining 7% will continue to be held by existing approved investors, including current owner Manoj Badale.
As part of the new governance model, Lakshmi N. Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale will serve on the franchise’s restructured board. Despite the change in ownership, Badale is expected to remain associated with the team in an advisory capacity, providing continuity and strategic input based on his long-standing experience with the franchise since its acquisition in 2008 for $67 million.
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The transaction is expected to be completed in the third quarter of 2026, subject to regulatory approvals from the Board of Control for Cricket in India (BCCI), the IPL Governing Council, and the Competition Commission of India. Earlier, the Kal Somani–Rob Walton–Sheila Ford Hamp consortium had submitted a competing offer of $1.63 billion, but reports suggest it did not progress due to due diligence concerns.
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Mittal Family on the Acquisition
Rajasthan Royals co-owner Lakshmi N. Mittal, who was born in Rajasthan’s Sadulpur and serves as chairman of ArcelorMittal and Aperam, shared his thoughts on the acquisition. He said, “The Royals is well known for developing new talent - that resonates deeply with me, and we are determined that legacy will continue, harnessing the best of talent in the world for future success. I want to thank everyone who has helped build the Rajasthan Royals into a global sporting institution - the players, coaches, leadership team, and above all the fans.”
Aditya Mittal also expressed similar views, stating, “The Royals is well known for developing new talent - that resonates deeply with me, and we are determined that legacy will continue, harnessing the best of talent in the world for future success. I want to thank everyone who has helped build the Rajasthan Royals into a global sporting institution - the players, coaches, leadership team, and above all the fans.”
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