In one of the biggest developments in cricket business, billionaire industrialist Lakshmi N. Mittal has emerged as the new co-owner of the Rajasthan Royals after a landmark multi-billion-dollar deal. The move marks a major shift in the ownership structure of the Indian Premier League (IPL) franchise and highlights the growing financial power of global investors in cricket.
🧑💼 Who is Lakshmi Mittal?
Lakshmi Mittal is an Indian-born global business magnate and the chairman of ArcelorMittal, the world’s largest steel manufacturing company. Known for building a vast industrial empire, Mittal has consistently ranked among the richest individuals globally.
- Born in Rajasthan, India
- Built a global steel empire across Europe, Asia, and the Americas
- Regularly featured in global rich lists
- Estimated net worth: ₹1.6 lakh crore+ (approx.)
Mittal has also previously invested in sports, including football clubs, but this marks one of his biggest moves into cricket.
🏏 Rajasthan Royals Ownership Deal
A consortium led by Lakshmi Mittal, along with his son Aditya Mittal and businessman Adar Poonawalla, has agreed to acquire a controlling stake in Rajasthan Royals.
- Deal value: $1.65 billion (₹15,600+ crore)
- Mittal family stake: ~75% ownership
- Adar Poonawalla stake: ~18%
- Remaining shares retained by existing investors including Manoj Badale
The acquisition includes not just the IPL team but also its sister franchises—Paarl Royals (South Africa) and Barbados Royals (Caribbean).
The deal is expected to be finalized later in 2026, subject to approvals from the BCCI and other regulatory bodies.
📈 Why This Deal Matters
This acquisition is among the largest investments in IPL history, underlining the league’s rapid growth as a global sports property.
- Franchise valuation crosses ₹15,000 crore
- Reflects rising global investor interest in IPL
- Signals expansion of cricket as a business ecosystem
Industry experts believe Mittal’s entry could bring financial stability, global strategy, and long-term growth to the franchise.
Mittal’s Connection to Rajasthan
Lakshmi Mittal has a personal connection with the team’s home state. He was born in Rajasthan and has expressed emotional attachment to the franchise.
He stated that being part of Rajasthan Royals holds special significance due to his roots and lifelong passion for cricket.
What It Means for Rajasthan Royals
The Royals, one of the original IPL teams and champions of the inaugural 2008 season, are expected to benefit from:
- Strong financial backing
- Enhanced global branding
- Focus on young talent development
With new ownership and strategic backing, the franchise could enter a new era of competitiveness in the IPL.
