RR Ownership: A significant change has occurred regarding the ownership of the Rajasthan Royals. Indian billionaire Laxmi Mittal is now the new majority shareholder of Rajasthan Royals.
This multiple-billion-dollar deal has changed who owns and runs one of the founding teams in the IPL. This deal represents a $1.65 billion (approximately Rs 15,660 crores).
Key Stakeholders in the New RR Ownership Structure
The buyout is being led by the Mittal family, along with the influential industrialist Adar Poonawalla. The group also ensures continued involvement from the current major shareholder, Manoj Badale.
Mittal Family: Approximate 75% shareholding
Adar Poonawalla: Approximate 18% shareholding
Read More
Current Shareholders (including Badale): Approximate 7% shareholding
Expansion Beyond IPL: Global Franchise Portfolio
In addition to owning the IPL team, the agreement allows for an investment in two teams from the Raj Royals’ subsidiary companies, which are:
- The Paarl Royals team in South Africa’s T20 league
- The Barbados Royals team (formerly known as the Barbados Tridents).
This is part of the larger objective to develop the Royals brand throughout the world in all T20 leagues.
Previous Deal Overturned
Also of note, the $1,635 million transaction agreement supersedes the earlier contract with a consortium of U.S.-based investors led by technology entrepreneur Kal Somani (their group had several high-profile name investors, including:
- Rob Walton
- Michael Hamp
After winning all the bidding rounds, the consortium ultimately could not finalize the transaction. The reasons for the transaction’s failure are unknown.
Competitive Bidding Landscape
Group led by Somani outbid a group including:
- Avram Glazer of Lancer Capital
- Major Indian corporations such as Aditya Birla Group and Times of India Group
Allotting of IPL franchises is becoming more valuable and appealing as there is increasing competition among purchasing parties.
Rajasthan Royals: From Modest Beginnings to Billion-Dollar Valuation
Inaugurated in 2008, the Rajasthan Royals were initially bought by Emerging Media for only $67 million. Previously, in 2008, the conversion between the Indian rupee and the U.S. dollar was approximately ₹40/USD and now (2026), it has risen to approximately ₹95/USD:
The current value of this team results from:
- The remarkable growth of IPL
- World-wide interest in T20 format
- Rapidly-growing franchise models in other cricket leagues
ALSO READ: IPL Fair Play Award Winners List from 2008 to 2026
