Rajasthan Royals sold for ₹15,660cr

Rajasthan Royals just became the latest proof that IPL teams are now billion-dollar assets, not just cricket clubs. Lakshmi N. Mittal, Aditya Mittal and Adar Poonawalla have agreed to buy control of the franchise in a deal valued at about $1.65 billion, or roughly ₹15,660 crore. That is the big number. But the more interesting part is what sits underneath it — who gets control, what exactly is included, and why this still may not be fully settled. (sportstar.thehindu.com) ### Who bought Rajasthan Royals? The buying group is led by the Mittal family — Lakshmi N. Mittal and Aditya Mittal — with Adar Poonawalla as the other major investor. The ownership split being reported is clear (sportstar.thehindu.com)ppearing either — he is expected to stay involved as a continuity figure. (indianexpress.com) ### What exactly did they buy? This is not just the IPL team in Jaipur colors. The reported enterprise value covers the Rajasthan Royals men’s franchise and also the wider Royals network, including Paarl Royals in South Africa’s SA20 and Barbados Royals in the Caribb(indianexpress.com)ain why the valuation looks so huge even by IPL standards. (sports.ndtv.com) ### Why is ₹15,660 crore such a big deal? Because it shows how far IPL franchise economics have moved. Rajasthan Royals were the inaugural champions in 2008, but for years they were not treated like the league’s flashiest commercial property. Now they have changed ha(sports.ndtv.com)one-off spike — it looks more like a repricing of the whole IPL market. (sportstar.thehindu.com) ### Why are people talking about legal trouble already? Because another group thought it was close to buying the team first. Reports say a consortium led by Kal Somani had been in advanced talks on a roughly $1.6(sportstar.thehindu.com) The catch is that this does not automatically block the new sale, but it could make the path messier. (economictimes.indiatimes.com) ### Is the deal finished? Not yet. The transaction is expected to close in Q3 2026 and still needs the usual approvals, including from the BCCI, the IPL Governing Council, the Competition Commission of India and other regulators. So the announcement is real, but completion is still conditional. That matters because sports deals can look done long before the paperwork is actually done. (kashmirreader.com) ### Why keep Manoj Badale around? Because franchise sales are not just balance-sheet events. They involve league politics, player strategy, sponsorship relationships and operating know-how. Badale has been central to the Royals story for years, so keeping him attached gives the new owners institutional (kashmirreader.com) throwing away the operating manual. (indianexpress.com) ### What does this mean for the IPL? It means the IPL is being valued more like a global premium sports league than a domestic tournament. Two major franchise transactions in the same year — first RCB, now Rajasthan Royals — suggest that ultra-rich buyers see long-te(indianexpress.com)s vanity purchases. (sportstar.thehindu.com) ### Bottom line? Rajasthan Royals has a new control group, at least on paper, and the price says everything about where IPL ownership is headed. But the real story is not just the ₹15,660 crore headline — it is that cricket franchises are now being bought like global sports platforms, with legal and regulatory complexity to match. (sportstar.thehindu.com)