The Mittal family will control a 75% share in RR, with Poonawalla owning 18%, and the remaining 7% distributed among current investors, including Badale.
The total transaction amount of $1.65 billion reflects the enterprise value of RR and its associated teams, namely the Barbados Royals from the Caribbean Premier League (CPL) and the Paarl Royals from the SA20.
The new board for RR will include Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale.
“Cricket is a passion of mine, and with my roots in Rajasthan, there’s no IPL team I would prefer to be associated with than the Rajasthan Royals. I began playing cricket in school, and I’ve remained a devoted fan of the game since then. Many outstanding players have donned the Rajasthan Royals jersey, including legendary Indian cricketers who inspire younger generations. I’m eager to join this remarkable team and can’t wait to cheer with our fans from the stands,” Lakshmi Mittal expressed in an official statement.
Adar Poonawalla remarked, “I am thrilled to collaborate with Aditya Mittal on this investment. Rajasthan Royals is an esteemed IPL franchise with a rich history, and I am excited to contribute to its ongoing growth and long-term triumph.”
In March, it was reported that Kal Somani, a tech entrepreneur of Indian origin based in the US, was leading a group to acquire RR, but that deal ultimately fell through, allowing for this recent development.
First Published: May 3, 2026 2:17 PM IST
