In collaboration with Adar Poonawalla, the Mittal Family has finalised an arrangement to purchase a majority share in the IPL team Rajasthan Royals. The franchise and its affiliated teams are valued at roughly $1.65 billion in the agreement, which was made with current owner Manoj Badale and his group. Subject to regulatory approvals from the BCCI, CCI, and IPL Governing Council, the deal is anticipated to close in the third quarter of 2026.
Following completion, Adar Poonawalla would own roughly 18% of Rajasthan Royals, while the Mittal Family will possess about 75%. Manoj Badale and other current investors will keep the remaining 7%. Badale will continue to play a supporting role for the team, offering his expertise in cricket operations.

The Rajasthan Royals are the IPL team I would most like to be a member of since I adore cricket and my family is from Rajasthan. I've been a huge fan of cricket since I played it for the first time as a schoolboy. Numerous outstanding athletes, notably Indian sports legends who have served as role models for the younger generation, have donned Rajasthan Royals shirts. Lakshmi N. Mittal remarked, "I am excited to be a part of this fantastic team and can't wait to join all the fans on the pitch to support our future success."

The purchase also includes ownership of the Barbados Royals in the Caribbean and the Paarl Royals in South Africa. Lakshmi N. Mittal, Aditya Mittal, Vanisha Mittal-Bhatia, Adar Poonawalla, and Manoj Badale are among the members of the new ownership group who will join the Rajasthan Royals board.
The Mittal family emphasised their long-standing ties to Rajasthan, pointing out that Lakshmi N. Mittal was born in the state's Sadulpur. At a time when the IPL is still growing internationally, the investment represents their first foray into franchise cricket ownership.

The Rajasthan Royals are among the league's original and most recognisable clubs, and the IPL has quickly grown to become one of the biggest sports leagues in the world. Being a member of this outstanding team makes me feel incredibly honoured and thrilled. The Royals are renowned for nurturing fresh potential, which strikes a deep chord with me. We are committed to carrying on this tradition by utilising the world's greatest talent for future success. I would want to express my gratitude to everyone of the players, coaches, leadership team, and most importantly, the supporters who have contributed to the Rajasthan Royals' development into a worldwide athletic institution.We want to carry on and improve its beloved heritage, Halla Bol!" Aditya Mittal stated.

"My parents instilled in me a passion for cricket at a young age. Vanisha Mittal-Bhatia stated, "It is an honour and a privilege to be a part of the future success of the largest cricket league in the world with the Rajasthan Royals because our family loves sports and we love India."
It gives me great pleasure to work with Aditya Mittal on this venture. Adar Poonawalla stated, "I look forward to supporting the Rajasthan Royals' continued growth and long-term success as a premier IPL franchise with a strong legacy."

Being a member of the Rajasthan Royals from the beginning and helping to create what has grown to be the most thrilling and prosperous cricket league in the world has been an honour of a lifetime. I am incredibly appreciative of the most significant individuals who have shaped our team into what it is: our supporters, players, coaches, and management teams, both past and present. The Mittal Family and Adar Poonawalla are the new owners of the Rajasthan Royals, and we are happy to welcome them. They are the perfect guardians of the next chapter because of their love of cricket, their ties to Rajasthan and India, and their long-term goals for the team.

As the Royals continue to develop, I am really looking forward to working with them and supporting our incredible team and its devoted supporters. "Halla Bol!" Manoj Badale stated.
A different intended takeover of the Rajasthan Royals by a syndicate led by Somani had been delayed before to this arrangement. As previously reported by ET, the intended $1.63 billion deal was delayed because of finance limitations within the investor group, legal difficulties, and challenges in consortium structure.
Along with Michael Hamp, the Somani consortium featured international investors like Rob Walton and Sheila Ford Hamp. The close was postponed, nevertheless, because the primary investor was still soliciting money and had not obtained the necessary pledges.

Due diligence also aroused concerns, as it was reported that the BCCI had identified problems with costs associated with previous secondary ownership deals involving Mauritius-based EM Sporting Holdings, which is in charge of Royal Multisport.
The Mittal Family, who had previously entered the bidding process with an estimated offer of about $1.5 billion, was among the other investors with whom the franchise promoters explored talks during this time.

An ongoing legal dispute involving former minority investor Raj Kundra further compounded the matter. Kundra filed a complaint with the National Company Law Tribunal through Kuki Investments, claiming mismanagement and oppression and requesting the reinstatement of his 11.7% ownership. The case is still pending adjudication. The Bombay High Court is also considering a challenge to a comparable anti-suit order that was granted by a UK court.