Jaipur: Rajasthan Royals have been making headlines in IPL 2026 thanks mainly to the exploits of Vaibhav Sooryavanshi. In 10 matches so far, Indian cricket’s 15-year-old wonderboy has clobbered the maximum number of sixes, scored over 400 runs, achieved the second-best strike rate of 237.64.
On Sunday, the Jaipur-based franchise hogged the limelight for a different reason.
In a major deal, renowned industrialist Lakshmi N. Mittal and his son Aditya Mittal, in partnership with Serum Institute of India CEO Adar Poonawalla, signed an agreement to acquire Rajasthan Royals in a deal valued at about USD 1.65 billion (around Rs 15,660 crore).
The consortium bought the franchise from Manoj Badale and his fellow investors.
The Mittal family will hold a 75% stake in the franchise, while Poonawalla will own about 18%. The remaining 7 percent will stay with existing investors.
The transaction remains subject to closing conditions and regulator
y approvals from the BCCI, CCI and he IPL Governing Council.
Mittal senior, who was born in Sadulpur in northern Rajasthan, the acquisition of Rajasthan Royals holds a special significance.
“I love cricket and my family is from Rajasthan, so there is no IPL team that I would rather be part of than the Rajasthan Royals. I first played cricket as a schoolboy, and since then I have been an avid fan of the sport. Many great players have worn the Rajasthan Royals shirts, including Indian icons of the sport who have been an inspiration for the younger talent. I look forward to being part of this great team, and cannot wait to join all the fans pitch-side to cheer on our future success,” said Lakshmi Mittal.
Poonawalla said je was delighted to partner with the Mittal family. “Rajasthan Royals is a premier IPL franchise with a strong legacy, and I look forward to supporting its continued growth and long-term success.”
The mega deal covers Rajasthan Royals’ global portfolio, which includes the IPL side, Paarl Royals in South Africa and Barbados Royals in the Caribbean.
This is the second ownership change in recent times in the world’s most popular and richest T20 league, following Royal Challengers Bengaluru’s $ 1.78 billion sale to an Aditya Birla-led consortium on March 24, days before the tournament’s 2026 edition kicked off.