Billion-Dollar Royals: Mittal-Poonawalla Consortium Buys IPL Team For USD 1.65 Billion

In one of the biggest franchise cricket acquisitions, Lakshmi Mittal and Aditya Mittal, along with Serum Institute CEO Adar Poonawalla, have finalized a deal to acquire Rajasthan Royals. The agreement reshapes the ownership structure of the team and expands its global footprint across multiple leagues.  

Ownership Structure  

The Mittal family will hold a 75% stake, Adar Poonawalla will own 18%, and existing investors including Manoj Badale will retain 7%. Badale, who previously held majority ownership, will continue in an advisory role to ensure continuity.  

Strategic Significance  

Lakshmi Mittal highlighted his personal connection to Rajasthan and passion for cricket, emphasizing the Royals’ legacy of nurturing young talent. The acquisition reflects the rising valuation of IPL franchises and the growing global appeal of cricket as a commercial sport.  

Regulatory Approvals  

The deal is subject to approvals from the BCCI, Competition Commission of India, and IPL Governing Council. Completion is expected in the third quarter of 2026.  

Global Expansion  

The acquisition includes ownership of Paarl Royals in South Africa’s SA20 league and Barbados Royals in the Caribbean Premier League, strengthening the consortium’s international presence.  

Key Highlights

• Royals acquired for USD 1.65 billion  
• Mittal family holds 75% stake  
• Adar Poonawalla owns 18% stake  
• Manoj Badale retains 7% advisory role  
• Deal includes Paarl Royals and Barbados Royals  
• Completion expected in Q3 2026 pending approvals  

Sources: Economic Times, Business Standard, Hindustan Times, Mint