JOURNAL ARTICLE

Mittal Family, Poonawalla to Buy IPL Franchise for $1.65 Billion.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Shetty, Savio; Kalesh, Baiju 3 of 3

Abstract

The article reports that a consortium led by steel billionaire Lakshmi Mittal and Indian billionaire Adar Poonawalla will acquire the Indian Premier League (IPL) cricket team Rajasthan Royals in a $1.65 billion deal. Mittal, the largest shareholder of ArcelorMittal SA, will hold about 75% equity, while Poonawalla will own around 18%, and existing investors will retain approximately 7%. The acquisition includes the Rajasthan Royals' affiliated teams Paarl Royals in South Africa's SA20 competition and Barbados Royals in the Caribbean Premier League. The deal, expected to close in the third quarter of 2026 pending regulatory approval, follows a recent high-profile sale of another IPL franchise and highlights the IPL’s status as a globally significant sports and entertainment league. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/05, pN.PAG
  • Document Type:Article
  • Subject Area:Sports and Leisure
  • Publication Date:2026
  • Accession Number:193409009
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