Former Indian Premier League (IPL) chairman Lalit Modi expressed delight over the Mittal family and Adar Poonawalla acquiring Rajasthan Royals, calling them the “most savvy investors.” The acquisition, announced by Lakshmi N. Mittal and Aditya Mittal in partnership with Adar Poonawalla, involves buying the Rajasthan Royals from Manoj Badale and consortium.
Apart from the IPL team, Rajasthan Royals also owns Paarl Royals in South Africa and Barbados Royals in the Caribbean. The deal’s value is around USD 1.65 billion, encompassing the enterprise value of Rajasthan Royals’ men’s franchise, Paarl Royals, and Barbados Royals.
Lalit Modi expressed his satisfaction, stating, “The IPL could not have better owners than this.” The Mittal family will hold about 75% of Rajasthan Royals, with Adar Poonawalla having around 18%, while the remaining 7% will be retained by approved existing investors, including Manoj Badale.
Aditya Mittal, who will lead the team for the Mittal family, is known for his significant investments, including becoming a major stakeholder in the NBA’s Boston Celtics in 2025. Aditya, a citizen of India residing in London, holds a Bachelor’s degree in Economics and plays key roles in various prominent organizations.
