IPL: Mittal Family, Adar Poonawala acquire RR for approx $1.65 billion

A consortium led by Lakshmi Mittal, Aditya Mittal, and Adar Poonawala has acquired the IPL franchise Rajasthan Royals and its sister entities for approximately $1.65 billion. The deal, expected to conclude in Q3 2026, will see the Mittal family hold a majority stake. This acquisition follows a previous attempt by a Kal Somani-led consortium that faced funding and regulatory hurdles.