Lakshmi Mittal to Own 75% of Rajasthan Royals After Deal Collapse
News Context
At a glance
- Lakshmi Mittal and his family have acquired a majority stake in the Rajasthan Royals, a franchise in the Indian Premier League (IPL).
- Under the terms of the agreement, the Mittal family will hold a 75% ownership stake in the team.
- This ownership change follows the collapse of a previous deal involving Kal Solmani.
Lakshmi Mittal and his family have acquired a majority stake in the Rajasthan Royals, a franchise in the Indian Premier League (IPL). The acquisition marks a significant shift in the ownership structure of the team.
The transaction values the franchise at US$1.65 billion. Under the terms of the agreement, the Mittal family will hold a 75% ownership stake in the team.
This ownership change follows the collapse of a previous deal involving Kal Solmani. The failure of the Solmani agreement paved the way for the Mittal family to secure the majority holding in the franchise.
The deal, reported in May 2026, underscores the continuing high valuation of IPL franchises as global investors seek entry into the league’s commercial ecosystem.