Rajasthan Royals Sold in Landmark Deal

The inaugural champions of the Indian Premier League, Rajasthan Royals, have been acquired by new owners in a transaction valued at approximately 1.65 billion US dollars (around 20,250 crore Bangladeshi taka). The franchise has been purchased by Indian industrialist Lakshmi N. Mittal and his family, alongside vaccine entrepreneur Adar Poonawalla. The change in ownership was confirmed through a joint statement issued on the day of the announcement.

Under the terms of the agreement, the Mittal family will hold roughly 75 per cent ownership of the franchise. Adar Poonawalla will control approximately 18 per cent, while the remaining stake will continue to be held by existing investors. Among them is Manoj Badale, the seller, who will nevertheless remain involved with Rajasthan Royals as a member of the board.

The transaction extends beyond the Indian Premier League team. Rajasthan Royals also owns franchises in other T20 leagues, including Paarl Royals in South Africa and Barbados Royals in the Caribbean. According to the joint statement, the 1.65 billion dollar valuation reflects the combined enterprise value of all three franchises, meaning that control of these teams will also pass to the new ownership group.

Lakshmi N. Mittal expressed enthusiasm about the investment, stating, “I love cricket and my family’s roots are in Rajasthan. Therefore, I could not have had a more favoured team in the IPL than Rajasthan Royals.” Adar Poonawalla similarly remarked that he was pleased to support the franchise’s long-term development, describing Rajasthan Royals as a leading IPL team with a distinguished heritage.

Manoj Badale welcomed the new owners, noting their passion for cricket, their connections to Rajasthan and India, and their ambitions for the franchise’s future. He stated that these attributes position them well to guide the team forward.

Franchise valuations within the IPL have risen significantly in recent years. In March, the reigning champions Royal Challengers Bengaluru were acquired for 1.77 billion US dollars by the American investment firm Blackstone. The Rajasthan Royals deal further underlines the league’s growing financial importance. According to a 2020 estimate, the IPL—one of the primary revenue sources for the Board of Control for Cricket in India—contributed more than 11 billion US dollars annually to the Indian economy.

Rajasthan Royals won the inaugural IPL title in 2008 under the leadership of Shane Warne. Since then, the team has not secured another championship over an 18-year period. However, recent developments, including the emergence of Vaibhav Suryavanshi, have contributed to renewed attention around the side. In the current season, Rajasthan Royals have played 10 matches, securing 12 points and occupying fourth position in the standings. They trail the table-topping Punjab Kings by a margin of just one point.

A summary of the transaction and current team status is provided below:

This transaction highlights the continued growth in valuation and global investment interest surrounding IPL franchises.