Who is the current RR team owner? As of 2026, the Rajasthan Royals (RR) are owned by a consortium led by Lakshmi Mittal, the steel billionaire, along with Adar Poonawala of Serum Institute of India, and existing owner Manoj Badale.
RR New Ownership Deal – Key Facts at a Glance
| Detail | Information |
|---|---|
| Deal Value | USD 1.65 billion (approx. ₹15,660 crore) |
| Mittal Family Stake | ~75% |
| Adar Poonawala Stake | ~18% |
| Manoj Badale Stake | ~7% (existing investors) |
| Deal Closure | Expected Q3 2026 |
| Pending Approvals | BCCI, IPL Governing Council, CCI |
The acquisition also includes ownership of Paarl Royals (SA20) and Barbados Royals (CPL), the full Royals franchise portfolio.
Who is Lakshmi Mittal, the New RR Team Owner?
Lakshmi Niwas Mittal, born on 15 June 1950 in Sadulpur, Rajasthan, is an Indian billionaire businessman and steel magnate. He is the Executive Chairman of ArcelorMittal, the world’s second-largest steelmaking company.
Known globally as the “King of Steel,” Mittal’s net worth stands at approximately $21.4 billion (₹1,77,620 crore), making him among the top richest Indians.
Quick Profile: Lakshmi Mittal
- Born: 15 June 1950, Sadulpur, Rajasthan, India
- Company: ArcelorMittal (Executive Chairman)
- Net Worth: ~$21.4 billion (2025)
- Son: Aditya Mittal (CEO, ArcelorMittal)
- Daughter: Vanisha Mittal-Bhatia (Board Member, ArcelorMittal)
- Connection to Rajasthan: Born and raised in Rajasthan
In 2021, Mittal transitioned from CEO to Executive Chairman of ArcelorMittal, handing day-to-day operations to his son Aditya Mittal.
Who is Adar Poonawala, the Co-Owner of RR?
Adar Poonawala is the head of Serum Institute of India and chairman of Poonawala Fincorp. As co-owner with an 18% stake, Poonawala brings significant business credibility to the new RR ownership structure.
RR Ownership Structure: Old vs New
| Aspect | Previous Setup | New Setup (2026) |
|---|---|---|
| Principal Owner | Manoj Badale | Lakshmi Mittal Family (75%) |
| Co-Investor | Various consortium | Adar Poonawala (18%) |
| Continuity | — | Manoj Badale remains (~7%) |
| Franchise Scope | IPL only | IPL + SA20 + CPL |
Why This RR Ownership Change Matters
- The earlier deal with the Kal Somani–Rob Walton–Sheila Ford Hamp consortium collapsed, paving the way for the Mittal-Poonawala acquisition.
- Lakshmi Mittal’s Rajasthan roots make this a homecoming of sorts for one of India’s most iconic IPL teams.
- Badale will continue with RR, “acting as a bridge between the past and the present, and bringing his deep knowledge and experience of cricket” to the franchise.
- The valuation of USD 1.65 billion signals how much IPL franchise values have grown.
RR Board Members After the Deal
Lakshmi Mittal, his son Aditya Mittal, daughter Vanisha Mittal-Bhatia, Poonawala, and Badale will all be part of the RR Board once the sale is completed.
FAQs
The Rajasthan Royals are owned by the Mittal family (75%), Adar Poonawala (18%), and Manoj Badale (~7%).
The franchise was acquired for approximately USD 1.65 billion (₹15,660 crore).
Yes, Badale retains a small stake and will serve on the RR Board in an advisory capacity.
The deal is expected to close in Q3 2026, pending BCCI and CCI approvals.
