Rajasthan Royals Get New Owners In The Middle Of IPL 2026; Sold For Whopping Amount

Rajasthan Royals [Source: AP Photos]

In a major development during the ongoing Indian Premier League (IPL 2026), the Rajasthan Royals have officially got new owners. 

This change comes at a time when the IPL is already seeing big financial deals and growing global attention. Earlier this year, even Royal Challengers Bengaluru were sold for a huge amount.

The new ownership is led by the well-known Lakshmi N. Mittal and his family, along with his son Aditya Mittal. They have partnered with Adar Poonawalla to buy the franchise. The deal is worth around $1.65 billion (approximately ₹15,660 crore), which makes it one of the biggest deals in IPL history.

Who bought Rajasthan Royals?

Previously, the team was owned by a group led by Manoj Badale. Although the ownership is changing, Badale will still stay connected to the team in an advisory role.

It is also important to note that this deal is expected to be completed in the third quarter of IPL 2026. However, it still needs approvals from the Board of Control for Cricket in India, the Competition Commission of India, and the IPL Governing Council. 

Earlier, another group led by Kal Somani, Rob Walton, and Sheila Ford Hamp had offered $1.63 billion, but their bid was not accepted due to several issues found during the checking process.

After the deal is completed, the Mittal family will control about 75% of the team. Meanwhile, Adar Poonawalla will own around 18%, and the remaining share will stay with existing investors, including Manoj Badale.

In addition, several key individuals will join the team’s board. These include Lakshmi Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale. Furthermore, Aditya Mittal is expected to take a leading role in managing the franchise.

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Rajasthan Royals new owners express excitement

Aditya Mittal shared his excitement by saying that the IPL has quickly become one of the biggest sports leagues in the world. He also mentioned that being part of Rajasthan Royals, one of the original and most iconic teams, is a great honour for him.

“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," he said.

Similarly, Adar Poonawalla expressed happiness about the partnership. He highlighted that Rajasthan Royals has a strong legacy and added that he is looking forward to helping the team grow and succeed in the future.

“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,” said Adar Poonawalla, CEO of the Serum Institute of India.

A look at Rajasthan Royals’ journey

The Rajasthan Royals are one of the original eight IPL teams. Back in 2008, they were bought for just $67 million. At that time, the value of the US dollar was much lower compared to today. As a result, the team’s value has increased massively over the years.

Interestingly, despite being considered the least valuable team initially, Rajasthan Royals, under the leadership of Shane Warne, won the very first IPL title. This victory became one of the most memorable moments in IPL history.

Over the years, the team has seen several ownership changes. For example, in 2009, Shilpa Shetty and Raj Kundra bought a small stake in the franchise. Later, Manoj Badale became the main owner with a majority stake.

Even though ownership is changing, the team’s performance remains important. In IPL 2026, Rajasthan Royals are doing fairly well. They are currently in fourth place and are still in the race for the playoffs.

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