Rajasthan Royals Sold for $1.65 Billion

Rajasthan Royals, the inaugural champions of the Indian Premier League (IPL), have been acquired in a major ownership transaction valued at approximately USD 1.65 billion (around BDT 20,250 crore). The franchise has been purchased by prominent Indian industrialist Lakshmi N. Mittal and his family, alongside pharmaceutical entrepreneur and billionaire Adar Poonawalla. The development was formally confirmed in a joint statement issued on the day of announcement.

Under the terms of the agreement, ownership of the franchise has been structured as follows:

Despite the change in ownership, Manoj Badale—one of the selling stakeholders—will continue to remain on the franchise’s board of directors.

The transaction extends beyond the IPL team itself. Rajasthan Royals also hold ownership interests in other cricket franchises, namely Paarl Royals in South Africa and Barbados Royals in the Caribbean. According to the joint statement, the USD 165 million valuation applies collectively to all three franchises, representing their combined enterprise value under the deal.

Lakshmi N. Mittal expressed enthusiasm regarding the acquisition, stating that cricket is a sport he deeply admires and that his family’s roots are in Rajasthan. He noted that, among IPL teams, Rajasthan Royals holds particular personal significance for him.

Adar Poonawalla also commented on the transaction, stating that he is pleased to support the long-term development of a leading IPL franchise with a distinguished legacy. He described Rajasthan Royals as a premier team within the league with a strong historical foundation.

Manoj Badale welcomed the new owners, stating that the Mittal family and Adar Poonawalla are well positioned to guide the franchise forward. He highlighted their connection to cricket, their association with Rajasthan and India, and their ambitions for the franchise’s future direction.

The valuation of IPL franchises has seen a sharp rise in recent years. In March of the same year, Royal Challengers Bengaluru—then the reigning champions—were acquired for approximately USD 1.77 billion by the US-based investment firm Blackstone, reflecting continued growth in the commercial value of the league.

The IPL remains a significant contributor to Indian cricket’s financial ecosystem. According to a 2020 estimate, the league contributes more than USD 1.1 billion annually to the Indian economy and is one of the key revenue sources for the Board of Control for Cricket in India (BCCI).

Rajasthan Royals, led by Shane Warne, won the inaugural IPL title in 2008. Since then, the franchise has not secured another championship in the 18 years following their first triumph. In the current season, the team has accumulated 12 points from 10 matches and stands fourth in the points table, trailing the top-ranked Punjab Kings by a margin of just one point.

The following table summarises the current standings context mentioned in the report:

*Punjab Kings lead by one point as stated in the report.

The acquisition marks a significant ownership transition for the franchise, with all associated entities now under the control of the new stakeholders.