Big confusion regarding the new owner of Rajasthan Royals! Indian businessman announces acquisition after Kaal Somani

Who is the real owner of the Rajasthan Royals? Confusion has arisen regarding the new owner of the Rajasthan Royals franchise, which won the title of the inaugural season of IPL. Earlier, the US-based group led by Kal Somani was declared the new owner of this franchise. But, now UK-based Indian-origin steel businessman Lakshmi Mittal has announced the purchase of Rajasthan Royals franchise.

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According to Cricbuzz report, Lakshmi Mittal said that a firm agreement has been reached to buy the Jaipur franchise. This franchise is one of the initial eight teams of the Indian Premier League (IPL). Serum Institute of India (SII)’s Adar Poonawalla and current chief owner Manoj Badale are part of the group that has bought the franchise for $1.65 billion (INR 15,660 crore at current exchange rates).

Under this agreement, the Mittal family will be the main owners and will retain control of the franchise. His stake in the franchise will be around 75 percent, while Aadar Poonawala’s stake will be 18 percent. The remaining 7 percent stake will be held by existing investors, which also includes Manoj Badale. The most interesting thing is that Manoj Badale was earlier the main owner of this franchise. Additionally, Aditya Mittal and Mrs. Vanisha Mittal-Bhatia will also be a part of the group.

“Mr. Badale will continue to provide his support to Rajasthan Royals. He will act as a bridge between the past and present and will benefit the franchise with his deep knowledge and experience in the field of cricket,” the group said in a joint statement.

The acquisition includes Rajasthan Royals’ subsidiaries in South Africa and the Caribbean – Paarl Royals and Barbados Royals. “The completion of this process is subject to certain customary conditions, including receipt of approvals from the BCCI, CCI, IPL Governing Council and other relevant regulatory bodies; and is expected to be completed in the third quarter of 2026,” the joint statement said.

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Let us tell you that the Mittal family has deep connections with the state of Rajasthan. Lakshmi Mittal was born and grew up in Sadulpur village in northern Rajasthan.