The Rajasthan Royals IPL franchise has changed hands in one of Indian cricket's biggest ownership deals. The Mittal family and Adar Poonawalla have jointly acquired the team for Rs 15,660 crore, with the Mittals taking a dominant 75% stake and Poonawalla picking up around 18%.

Who Is Buying What

The Mittal family, known for their steel and telecom interests, will be the controlling partner in the new ownership structure. Adar Poonawalla, CEO of the Serum Institute of India and one of India's wealthiest individuals, comes in as a significant minority investor at roughly 18%. The remaining stake is not detailed in the current disclosure.

The Rs 15,660 crore price tag sets a new reference point for IPL franchise valuations. It reflects how sharply the league's commercial value has risen, driven by broadcast deals, title sponsorships, and growing global interest in T20 cricket. Franchise sales are rare, which makes each transaction a pricing benchmark for the sport as a business.

Why This Deal Matters

Rajasthan Royals were one of the original eight IPL franchises, founded in 2008. The team won the inaugural IPL title that year. Despite a two-year suspension between 2015 and 2017 linked to a spot-fixing controversy, the franchise has maintained a strong fan base and brand identity, particularly around its scouting and player development reputation.

For the Mittal family, this acquisition adds a high-profile sports asset to their portfolio at a time when IPL team ownership is increasingly seen as a blend of brand building and long-term financial investment. For Poonawalla, it continues a pattern of high-visibility business and cultural investments.

The valuation implies that each percentage point of franchise ownership is now worth roughly Rs 208 crore at the deal price, underscoring how far IPL asset prices have traveled since the league's early years. Investors and sports business watchers will treat this number as a floor for future franchise transactions.

What to watch: whether the new owners signal any changes to the team's management structure, coaching setup, or player retention strategy ahead of the next IPL auction cycle.