Rajasthan Royals Sold: Adar Poonawalla, Mittals Take Over RR In Rs 15,600 Cr Deal

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Key points generated by AI, verified by newsroom

• Mittal family and Adar Poonawalla buy majority Rajasthan Royals stake.
• Deal valued at Rs 15,600 crore covers global franchise operations.
• New board formed with Mittals, Poonawalla, and existing investors.
• Takeover completion subject to regulatory approvals by Q3 2026.

Rajasthan Royals IPL 2026 Takeover: Steel tycoon Lakshmi N. Mittal, his son Aditya Mittal, and vaccine pioneer Adar Poonawalla have successfully acquired a majority stake in the Rajasthan Royals.

The deal is valued at approximately Rs 15,600 crore ($1.65 billion). This massive investment covers the global Royals family, including the flagship IPL team, the Paarl Royals in South Africa, and the Barbados Royals in the Caribbean.

New Board and Structure

Under the new arrangement, the Mittal family will hold a 75 per cent stake, while Adar Poonawalla takes an 18 per cent share. Poonawalla, who previously showed interest in other franchises, shared his enthusiasm for the partnership. He stated that he looks forward to supporting the “long-term success” of what he considers a premier institution. The remaining 7 per cent stays with existing investors, including Manoj Badale, who has been a central figure in the team’s history.

The future board will feature the Mittal family, Poonawalla, and Badale. This mix ensures a blend of fresh investment and institutional memory. Badale will serve as a vital link between the club’s foundations and its new era. He welcomed the newcomers, describing them as “ideal custodians” who possess the necessary ambition and passion for Indian cricket to lead the franchise forward.

Timeline for Completion

While the agreement is signed, the takeover awaits final hurdles. The process requires several official nods, including the green light from the BCCI, the IPL Governing Council, and competition regulators. These customary checks ensure the stability of the league. If all goes according to plan, the transition should be finalised by the third quarter of 2026.

This shift comes after a previous bid from a US-based group stalled during the due diligence phase. With the Mittals and Poonawalla now at the helm, the Royals are set for a well-funded future. Fans can expect the franchise to continue its focus on talent development while benefitting from the vast resources and global perspectives of its new majority owners.

The Collapsed American Bid

The transition follows a failed takeover attempt by a US-based consortium led by Kal Somani. Although the group initially offered a competitive USD 1.63 billion, the deal ultimately fell through during the final stages.

Reports suggest the bid failed to pass essential due diligence checks. According to industry sources, multiple internal issues prevented the group from securing the necessary approvals, paving the way for the Mittal family.