Lakshmi Mittal, Adar Poonawalla Acquire Rajasthan Royals Cricket Franchise

Indian billionaires Lakshmi N. Mittal and Adar Poonawalla have finalized a deal to purchase the Rajasthan Royals cricket franchise and its two international teams for around $1.65 billion (approximately ₹1,58,38.63 crore). The Competition Commission of India (CCI) approved the acquisition on September 17.

The deal includes Rajasthan Royals from the Indian Premier League (IPL), Paarl Royals in South Africa’s SA20 league, and Barbados Royals in the Caribbean Premier League (CPL). Westview Cricket Limited, owned by the Mittal family, and Poonawalla Sports and Fitness Private Limited are handling the acquisition.

Lakshmi Mittal and his son Aditya Mittal will own 75% of the franchise group through Westview Cricket. Adar Poonawalla holds 18%, while existing investors, including Manoj Badale, retain 7%. The transaction extends beyond the IPL team to include the entire Royals network.

The acquisition makes the Mittal family major owners in South African franchise cricket. The deal was announced earlier this year at an enterprise value of $1.65 billion and required approvals from CCI, BCCI, and the IPL Governing Council.

This marks the Mittal family’s entry into professional cricket, with their investment set to influence international T20 competitions.

Lakshmi Mittal, born in 1950 in Rajasthan, built a global steel empire. Starting in his family’s business, he expanded across countries like Indonesia, Trinidad, and Germany, culminating in the creation of ArcelorMittal, the world’s largest steelmaker.