In one of the biggest ownership moves in the Indian Premier League, the Rajasthan Royals are set to be acquired by a powerful consortium led by the Mittal family in partnership with Adar Poonawalla.
The deal, valued at approximately USD 1.65 billion (₹15,660 crore), will see steel magnate Lakshmi N. Mittal and Aditya Mittal take controlling ownership of the franchise from current stakeholders, including Manoj Badale.
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The acquisition also covers the Royals’ broader global cricket footprint, including teams in South Africa and the Caribbean. Once completed—likely in the third quarter of 2026, subject to approvals from the BCCI, IPL Governing Council and the Competition Commission of India—the Mittal family is expected to hold a 75% stake, while Poonawalla will own around 18%, with the remaining shares retained by existing investors. Badale is set to continue on the board.
The Indian Premier League’s evolving ownership landscape has entered a transformative phase, marked by soaring franchise valuations and high-profile acquisitions. The Rajasthan Royals deal comes amid a broader wave of investment activity, including the reported $1.78 billion valuation involving Royal Challengers Bengaluru.
As new-age investors, legacy business families, and global capital continue to reshape franchise ownership, the IPL is fast cementing its position as one of the most valuable sporting leagues in the world.
IPL 2026 Team Owners
| Team | Ownership | Key Individuals | Details |
|---|---|---|---|
| Rajasthan Royals | Mittal Family + Consortium | Lakshmi N. Mittal, Aditya Mittal, Adar Poonawalla | Acquired in a landmark ~$1.65 billion deal from Manoj Badale-led group |
| Royal Challengers Bengaluru | Aditya Birla Group-led consortium | Ananya Birla, Aryaman Birla | Bought for ~$1.78 billion; includes UltraTech, Times Group, Blackstone, Bolt Ventures, David Blitzer |
| Mumbai Indians | Reliance Industries | Mukesh Ambani | Continues as one of IPL’s most successful and valuable franchises |
| Chennai Super Kings | Chennai Super Kings Cricket Ltd | N. Srinivasan | Known for stability, consistency and long-term leadership |
| Kolkata Knight Riders | Red Chillies + Mehta Group | Shah Rukh Khan, Juhi Chawla, Jay Mehta | A blend of glamour and business since IPL inception |
| Delhi Capitals | GMR Group + JSW Group | Parth Jindal | Strong corporate partnership driving growth and strategy |
| Punjab Kings | Multi-stakeholder group | Preity Zinta, Ness Wadia, Mohit Burman, Karan Paul | Mix of entertainment and corporate ownership |
| Sunrisers Hyderabad | Sun TV Network | Kalanithi Maran | Backed by a major South Indian media conglomerate |
| Gujarat Titans | Torrent Group + CVC Capital | Jinal Mehta, Shaan Mehta | Strong industrial and investment backing; rapid rise since debut |
| Lucknow Super Giants | RPSG Group | Sanjiv Goenka | One of the newer franchises with solid leadership |
