IPL franchise Rajasthan Royals has been acquired by a consortium for $1.65 billion. In the new deal, the UK-based Mittal family has acquired 75% stake in the franchise, while Serum Institute CEO Adar Poonawalla will hold 18%.
RR’s current owner, Manoj Badale, will lead a group of investors who will hold a 7% stake in the inaugural champions.
Rajasthan Royals sold to new owners for the second time this year
Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia and Ponawala will join the board of Rajasthan Royals after the new deal is approved by the BCCI and the Competition Commission of India.
to break:
Rajasthan Royals has been acquired by a consortium of existing investors led by Mittal Family (UK), Adar Poonawala (Serum Institute) and Manoj Badale.
The transaction is valued at US$1.65b.
A previous deal involving the Kal Somani, Walton and Hamp families did not come to fruition.
+
– KSR (@KShriniwasRao) 3 May 2026
Earlier this year, RR was sold to a consortium led by American entrepreneur Kal Somani for a sum of $1.63 billion. That consortium included Rob Walton of the Walmart family and the Hamp family, which owns the Detroit Lions team in the NFL.
Also read: Jitesh Sharma clarifies on ‘unprofessional’ comment on Vaibhav Suryavanshi