Rajasthan Royals sold for $1.65 billion to Mittal family, Adar Poonawalla after Kal Somani’s deal collapse

Rajasthan Royals sold for $1.65 billion to Mittal family, Adar Poonawalla after Kal Somani’s deal collapse

**IPL Franchise Rajasthan Royals Acquired by Consortium for $1.65 Billion**

The Indian Premier League team Rajasthan Royals has been acquired by a consortium for a whopping $1.65 billion in a recent deal. The consortium is led by the UK-based Mittal family, who have acquired 75% stakes in the franchise. Adar Poonawalla, the CEO of Serum Institute, will own 18% of the stakes, while RR’s current lead owner, Manoj Badale, will hold 7% along with a group of investors. The deal also includes RR’s sister franchises – Barbados Royals in the CPL and the WCPL, and Paarl Royals in the SA20.

**New Ownership Dynamics**

Once the deal is finalized by the third quarter of 2026, steel magnate Lakshmi Niwas Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, and Adar Poonawalla will join the board of Rajasthan Royals. The consortium released a joint statement regarding the new ownership dynamics, expressing their commitment to the franchise. “Mr. Badale will continue to support Rajasthan Royals, bringing his deep knowledge and experience of cricket to the franchise,” they mentioned.

**Previous Ownership and Failed Deal**

Earlier this year, RR was sold to a consortium led by American entrepreneur Kal Somani for $1.63 billion, which included Rob Walton of the Walmart family and the Hamp Family, owners of the Detroit Lions team in the NFL. However, the deal fell apart due to insufficient funding, as the consortium failed to meet the deadlines to show available funds.

**Interest from Mittals and Poonawalla**

Reports suggest that the Mittal family and Adar Poonawalla had shown interest in acquiring Rajasthan Royals during the initial rounds of the sale process. Poonawalla had also expressed interest in buying Royal Challengers Bangalore but eventually lost out to another consortium. Lakshmi Niwas Mittal expressed his excitement about being part of Rajasthan Royals, citing his love for cricket and his Rajasthani origins.

**Statements from New Owners**

Lakshmi Mittal expressed his passion for cricket and his connection to Rajasthan, stating, “There is no IPL team I would rather be part of than the Rajasthan Royals.” Adar Poonawalla expressed his delight in partnering with Aditya Mittal and supporting the growth of the franchise. Manoj Badale welcomed the Mittal Family and Poonawalla as the new owners, highlighting their passion for cricket and long-term ambitions for the team.

**Current Performance in IPL 2026**

In the ongoing IPL season, Rajasthan Royals are currently placed fourth on the points table with 6 wins in 10 matches. Despite a few losses in the recent matches, they are still in contention for the playoffs. The team is set to face Gujarat Titans at the Sawai Man Singh Stadium in Jaipur in their upcoming match on May 9.

With the new ownership and continued support, Rajasthan Royals aim to build on their legacy and success in the IPL, attracting fans from around the world to cheer on the team.

The Future of Rajasthan Royals under New Ownership

With the recent acquisition by the Mittal family consortium and Adar Poonawalla, Rajasthan Royals are poised for a new chapter in their journey within the Indian Premier League. The injection of new leadership and resources is expected to bring a fresh perspective to the franchise and potentially elevate their performance on and off the field.

Strategic Investments and Potential Changes

Under the new ownership dynamics, Rajasthan Royals may see strategic investments in player acquisitions, infrastructure development, and fan engagement initiatives. The Mittal family’s global business acumen, combined with Adar Poonawalla’s entrepreneurial spirit, could lead to innovative strategies aimed at maximizing the team’s potential in the competitive IPL landscape.

Building a Strong Team Culture

One key aspect that the new owners may focus on is fostering a strong team culture within Rajasthan Royals. By nurturing a positive environment for players, coaches, and support staff, the franchise can create a cohesive unit that thrives under pressure and delivers consistent performances on the field.

Expanding the Fan Base

With the backing of prominent figures like the Mittal family and Adar Poonawalla, Rajasthan Royals have the opportunity to expand their fan base both in India and internationally. By leveraging their global networks and resources, the franchise can engage with fans across different regions, creating a strong community of supporters that adds to the vibrancy of the IPL.

Striving for Excellence on the Field

As Rajasthan Royals continue their campaign in the IPL 2026 season, the new owners will undoubtedly strive for excellence in every aspect of the team’s performance. With a focus on talent development, strategic planning, and consistent execution, the franchise aims to compete at the highest level and bring home coveted titles in the future.

Long-Term Vision and Sustainability

Looking ahead, the Mittal family consortium, Adar Poonawalla, and the existing stakeholders are likely to work towards a long-term vision for Rajasthan Royals. By prioritizing sustainability, growth, and success, the franchise can establish itself as a powerhouse in the IPL and leave a lasting impact on the cricketing landscape.

Embracing the Legacy of Rajasthan Royals

Despite the changes in ownership, Rajasthan Royals will continue to embrace their rich legacy in the IPL. The team’s history of nurturing young talent, playing with flair and unpredictability, and embodying the spirit of cricket will remain at the core of their identity, resonating with fans who have supported them through thick and thin.

In conclusion, the acquisition of Rajasthan Royals by the Mittal family consortium and Adar Poonawalla heralds a new era for the franchise, filled with promise, ambition, and a shared commitment to success. As the team navigates through the challenges and opportunities that lie ahead, cricket enthusiasts around the world eagerly anticipate witnessing the evolution of one of the most beloved teams in the IPL.

Latest News