The Rajasthan Royals are on the verge of a significant ownership transformation, marking one of the biggest off-the-field developments in IPL 2026. What once appeared to be a closed chapter has taken a dramatic turn, with a new high-profile consortium stepping in after the collapse of an earlier deal. Originally purchased for just $67 million (₹636 crore) in 2008, Rajasthan Royals have now seen their valuation skyrocket in line with the IPL’s exponential growth.
A Kal Somani-led consortium had initially emerged as the frontrunner to acquire the franchise, but that agreement failed to materialise due to structural and financial complications. In its place, a powerful new group led by steel magnate Lakshmi Mittal and Serum Institute CEO Adar Poonawalla has moved swiftly to take control.
The franchise, along with its global T20 assets — Paarl Royals in SA20 and Barbados Royals in the Caribbean Premier League — is now valued at approximately ₹15,660 crore ($1.65 billion). The deal is reportedly in advanced stages, with formal confirmation expected pending regulatory approvals.
ALSO READ: Kevin Pietersen Trolls KL Rahul, DC Star Fires Back With Witty Reply
Under the proposed structure, the Mittal family is set to acquire a controlling 75 percent stake, while Poonawalla will hold around 18 percent. The remaining shares will stay with existing stakeholders, including current majority owner Manoj Badale. Interestingly, Badale’s decision to explore a sale is believed to be linked to anticipated shifts in IPL broadcasting revenues, which could influence long-term franchise valuations.
This deal also highlights the rising importance of multi-league ownership in modern cricket. By acquiring stakes across three major T20 competitions, the new investors are effectively building a global cricket portfolio — a strategy that is increasingly becoming the norm among elite franchise owners.
🚨 NEW OWNERS OF RAJASTHAN ROYALS 🚨
Mittal Family – 75%
Adar Poonawalla – 18%
Manoj Badale & others – 7%THE VALUE IS AROUND 13,700 CRORE…!!! 🤯🔥 pic.twitter.com/0FV9pUAd9K
— Johns. (@CricCrazyJohns) May 3, 2026
Comparisons have already been drawn with the recent sale of Royal Challengers Bengaluru, which fetched nearly $1.8 billion. While Rajasthan Royals may not match RCB’s brand value yet, this deal underlines how rapidly their market position has strengthened.
The earlier Somani-led bid reportedly ran into issues related to funding clarity and regulatory approvals, despite valuing the franchise at around ₹15,300 crore. Once that deal collapsed, the Mittal-Poonawalla group capitalised on the opportunity, moving decisively to secure the franchise.
ALSO READ: Stephen Fleming Hails CSK Star, Praises Temperament After MI Victory
However, the process is not yet complete. The final approval rests with the Board of Control for Cricket in India, and the ownership transfer is expected to be formalised only after the IPL 2026 season concludes. With the BCCI’s annual general meeting likely to take place later in the year, the official transition could extend into October 2026.
If completed, this deal will not just redefine Rajasthan Royals’ ownership but also reinforce the IPL’s position as one of the most valuable sporting ecosystems in the world.
