Rajasthan Royals sold again between IPL 2026, Lakshmi Mittal bought the franchise for 15,660 crores

Rajasthan Royals: A big update related to Rajasthan Royals is coming out during IPL 2026. Let us tell you, the team has got a new owner. The country’s veteran industrialists and steel kings Lakshmi Niwas Mittal and Aditya Mittal along with Adar Poonawala have acquired this franchise. After this acquisition, he has now become the new owner of IPL franchise Rajasthan Royals.

How much was the deal done for?

In fact, while giving information about this on Sunday, May 3, the Mittal family said that a final agreement has been signed with Manoj Badale and his consortium, along with Adar Poonawala, for the acquisition of Rajasthan Royals. According to reports, this deal has been done for 1.65 billion dollars i.e. approximately Rs 15,660 crore.

🚨 BREAKING

Lakshmi Mittal has announced the acquisition of Rajasthan Royals franchise.

Adar Poonawalla and Manoj Badale are part of the consortium that has acquired the franchise for $1.65 billion. pic.twitter.com/MiZ5piwzrP

— Cricbuzz (@cricbuzz) May 3, 2026

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Rajasthan Royals gets new owner

According to Bussiness report, Mittal family was already interested in buying Rajasthan Royals. After this acquisition, Mittal family will have 75 percent stake in Rajasthan Royals. Adar Poonawala will have 18 percent stake. Apart from this, 7 percent stake will remain with the investors, which also includes Manoj Badale.

pending approval

According to media reports, at present this deal is yet to get the approval of BCCI, Competition Council of India, IPL Governing Council and other regulatory institutions. It is being told that this deal will be completed in the third quarter of this year’s financial year 2026.

Consortium issued statement

“Mr Badale will continue his support of Rajasthan Royals, act as a bridge between the past and present and bring his deep knowledge and experience of cricket to the franchise,” the consortium said in a joint statement, according to Cricbuzz. Let us tell you, the acquisition includes RR’s subsidiaries located in South Africa and the Caribbean – Paarl Royals and Barbados Royals.