Revealed: Who are the new owners of Rajasthan Royals after Somani deal fell through?
(Courtesy : BCCI/IPL)
Rajasthan Royals have been bought by the new owners for INR 15,660 crore.
The Rajasthan Royals (RR) are seeing a lot of changes this year. To begin with, Riyan Parag was named as the full-time captain of the side after Sanju Samson’s ouster. Kumar Sangakkara was named as the new head coach after Rahul Dravid parted ways ahead of the Indian Premier League 2026.
Moreover, the current owners of the Royals were involved in selling the stakes over the last few months. The franchise operates under Royal Sports Group, which also owns Paarl Royals in South Africa’s SA20 and Barbados Royals in the Caribbean Premier League.
Earlier, a group led by Kal Somani was the frontrunner to buy a majority stake in the RR franchise. They had offered a bid of $1.63 billion (approx. INR 15,000 crore).
However, in a major twist, the deal did not conclude as the Kal Somani-led consortium pulled out of the race at the last moment. Now, two Indian billionaire businessmen have bought majority stakes in the Rajasthan Royals.
Lakshmi Mittal and Adar Poonawala are the new owners of RR
Renowned Indian industrialists Lakshmi N. Mittal and his son Aditya Mittal, along with Adar Poonawalla, are the new owners of the RR franchise. Their consortium has acquired a majority stake in Rajasthan Royals by bidding US$1.65 billion (approximately Rs 15,600 crore). The consortium also includes the current owner, Manoj Badale.
The Mittal group bought 75% stake, while Poonawala has bagged 18%. Manoj Badale and existing investors owned the remaining 7% stake. The deal also includes ownership of Paarl Royals and Barbados Royals, the two franchises under the Royals brand in SA20 and CPL.
“Following completion, the Mittal family will own approximately 75% of Rajasthan Royals, with Adar Poonawalla holding approximately 18%,” the statement said. “The remaining approximately 7% will be held by approved existing investors, including Manoj Badale,” a statement issued by all the parties involved in the deal said.
The Mittals Group owns the global steel company ArcelorMittal, while Poonawala is the head of Serum Institute of India and chairman of Poonawala Fincorp.
Both the Mittal family and Poonawala were among several bidders who also tried to buy the Royal Challengers Bengaluru when the franchise was put on sale ahead of IPL 2026.
Welcoming the new owners, Badale said, “We are delighted to welcome the Mittal family and Adar Poonawalla as the new owners of the Rajasthan Royals. Their passion for cricket, their connection to Rajasthan and India, and their long-term ambition for the franchise make them ideal custodians of the next chapter.”
Who are the new owners of the Rajasthan Royals?
Laxmi Mittal of the Mittal Group (75%) and Adar Poonawala of Serum Institute of India (18%) are the new owners of Rajasthan Royals. The rest 7% stakes are with current owner Manoj Badale and existing owners.
Who is the captain of RR in IPL 2026?
Riyan Parag is the captain of the side in the tournament.
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Vikas Singh Derek is a core cricket-lover since childhood and has always followed the sport both in his personal and professional life. He started his school life by watching cricket at home with family. Later, he played cricket on the field at local clubs during college. After his Master's in Journalism from Mumbai, he followed his passion by covering cricket news across various digital media. Since 2015, he has been an aspiring sports journalist and cricket content writer with over 50K+ articles.