Jaipur: Amidst IPL 2026 (IPL 2026), big news about Rajasthan Royals has come to the fore. This time the franchise got a new owner. The Mittal family, known as the emperors of the steel industry, bought 75% of Rajasthan Royals in their name. Also, Serum Institute of India owner Adar Poonawalla has bought about 18 percent stake.

Lakshmi N Mittal and Aditya Mittal and Adar Poonawala own about 93 per cent in the group. On the other hand, the remaining 7% shares will be held by the current owner Manoj Badle and others. This agreement has been agreed upon. Manoj Badle, the old owner of the franchise, will be associated with the team. He will act as a link between past and future for the team.

How much money was this deal?

According to various reports, the deal is worth around $1.65 billion (roughly Rs. 15,600 crores in Indian currency). The deal will not only be limited to the Rajasthan Royals who play in the Indian Premier League, but will also include the Pearl Royals of the SA20 League in South Africa and the Barbados Royals of the Caribbean Premier League. In simple words, the ownership of these two teams will also go to the new owners.

Agreement pending approval

As far as is known, BCCI, Competition Council of India (CCI), IPL Approval from the Governing Council and other regulatory bodies is pending. It is reported that this deal will be completed in the third quarter of financial year 2026.

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The contract was canceled earlier

It may be reported that earlier a US-based consortium led by Somani had offered USD 1.63 billion, but according to reports, it could not pass the due diligence process due to several problems. Thus the previous agreement is canceled and the franchisee gets a new owner through a new agreement.

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