IPL franchise Rajasthan Royals have been acquired by a consortium for $1.65 billion. In the new deal, the UK-based Mittal family has acquired 75% stakes in the franchise, whereas Adar Poonawalla, the CEO of Serum Institute, will own 18%.
RR's existing owner, Manoj Badale, will lead a group of investors that will hold 7% stakes in the inaugural champions.
Rajasthan Royals sold to new owners for the second time this year
After the new deal is ratified by the BCCI and the Competition Commission of India, Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, and Ponawalla will join the board of Rajasthan Royals.
Break:Rajasthan Royals has been acquired by a consortium of Mittal Family (UK), Adar Poonawala (Serum Institute) & Manoj Badale-led existing investors.The transaction is pegged at US$1.65b.The earlier deal involving Kal Somani, Walton & Hamp Families had not worked out.+
— KSR (@KShriniwasRao) May 3, 2026Earlier this year, RR had been sold to a consortium led by American entrepreneur Kal Somani for a sum of $1.63 billion. That consortium had contained Rob Walton of the Walmart family and the Hamp Family, which owns the Detroit Lions team in the NFL.
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