Rajasthan Royals Sold for $1.65 Billion in Landmark IPL 2026 Deal

A New Era for the Rajasthan Royals

The Indian Premier League (IPL) 2026 continues to redefine the boundaries of global sports finance. In a landmark announcement that has sent ripples through the cricketing fraternity, the Rajasthan Royals have officially been sold to a new consortium of high-profile owners. This transaction, valued at a staggering $1.65 billion (approximately ₹15,660 crore), represents one of the most significant financial shifts in the history of the IPL.

The change comes as the league experiences an unprecedented surge in global attention and valuation. Following the high-profile sale of the Royal Challengers Bengaluru earlier this year, this latest deal underlines the immense commercial viability of the IPL brand.

The Powerhouse Ownership Group

The new ownership structure is headlined by global industrialist Lakshmi N. Mittal and his son, Aditya Mittal, in a strategic partnership with vaccine magnate Adar Poonawalla. This powerhouse combination brings significant financial muscle and global expertise to one of the league’s founding franchises.

While Manoj Badale, the previous owner, is stepping back from his majority position, he will maintain a pivotal role within the organization. Badale will transition into an advisory capacity, ensuring a sense of continuity for the franchise during this complex ownership transfer.

Deal Logistics and Regulatory Hurdles

The transition is expected to be finalized by the third quarter of IPL 2026. However, the deal remains subject to standard regulatory scrutiny. It must still clear the necessary approvals from the Board of Control for Cricket in India (BCCI), the Competition Commission of India, and the IPL Governing Council.

Interestingly, the path to this agreement was competitive. A competing bid worth $1.63 billion, spearheaded by the group of Kal Somani, Rob Walton, and Sheila Ford Hamp, was ultimately rejected after falling short during the due diligence and vetting process.

Equity Distribution and Governance

Under the finalized terms, the equity split for the franchise will shift significantly. The Mittal family is set to command a majority 75% stake in the team. Adar Poonawalla will secure approximately 18%, while the remaining shares will be retained by existing investors, including Manoj Badale.

The organizational structure will also see a refreshed board of directors. The new board will feature Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale. It is widely expected that Aditya Mittal will take the reins in leading the strategic management of the franchise moving forward.

Vision for the Future

The new owners have expressed profound enthusiasm regarding their investment. Aditya Mittal emphasized the rapid rise of the IPL on the global stage, noting his pride in taking ownership of an iconic team. “The IPL has, in a very short space of time, become one of the biggest sporting leagues in the world, and the Rajasthan Royals is one of the original and the most iconic teams of the league. Personally, I am so honoured and excited to be part of this great team,” Mittal remarked.

Adar Poonawalla echoed these sentiments, focusing on the legacy and long-term potential of the Royals. “I am delighted to partner with Aditya Mittal on this investment. Rajasthan Royals is a premier IPL franchise with a strong legacy, and I look forward to supporting its continued growth and long-term success,” stated the CEO of the Serum Institute of India.

A Legacy of Resilience

The story of the Rajasthan Royals is one of the most fascinating in cricket history. When the IPL was inaugurated in 2008, the team was acquired for a modest $67 million—a figure that looks minuscule by today’s financial standards. Despite being labeled as the least valuable team at the time, the Royals, under the legendary guidance of Shane Warne, shocked the world by clinching the inaugural title.

Since that historic triumph, the franchise has undergone various ownership adjustments, including brief stints involving Shilpa Shetty and Raj Kundra in 2009. Through all these transitions, the team has maintained a competitive spirit. As of the current IPL 2026 season, the Royals continue to perform well, holding a solid fourth-place position and remaining firmly in contention for a playoff berth.

With this new infusion of capital and leadership, the Rajasthan Royals are poised to continue their journey as a formidable force in world cricket, blending their storied past with a highly ambitious financial future.