Steel tycoon Lakshmi Mittal has emerged as the new owner of the Indian Premier League (IPL) franchise Rajasthan Royals, taking over the reins from the previous ownership group. The acquisition, finalized in early May 2026, marks a significant shift in the franchise's history as Mittal brings his vast business acumen and global stature to the cricket team.
Details of the Acquisition
The deal, valued at an estimated INR 5,000 crore, sees Mittal acquiring a majority stake in the franchise. The exact percentage of shares has not been disclosed, but sources close to the development confirmed that the Mittal family will now control the operations and strategic direction of the team. The previous owners, led by the Manoj Badale-led consortium, will retain a minority stake and continue to be involved in an advisory capacity.
Lakshmi Mittal's Background
Lakshmi Mittal, chairman and CEO of ArcelorMittal, the world's leading steel and mining company, has a net worth exceeding $15 billion. His entry into the IPL ecosystem is seen as a major boost for the league, given his experience in managing large-scale enterprises and his passion for sports. Mittal has previously been involved in football, owning a stake in the French club Paris Saint-Germain, but this marks his first foray into cricket ownership.
Impact on Rajasthan Royals
The franchise, which won the inaugural IPL season in 2008 under the captaincy of Shane Warne, has struggled for consistency in recent years. With Mittal's financial backing and global network, the team is expected to strengthen its squad and infrastructure. Speculation is rife that the franchise may look to revamp its coaching staff and scouting network, aiming to build a title-winning side for the 2027 season.
Reactions from the Cricket World
Former cricketers and analysts have welcomed the move. Harsha Bhogle, a prominent cricket commentator, said, "This is great news for the IPL. Lakshmi Mittal's involvement will bring a new level of professionalism and investment to Rajasthan Royals." Meanwhile, current Rajasthan Royals captain Sanju Samson expressed excitement, stating, "We are thrilled to have Mr. Mittal on board. His vision and resources will help us achieve our goals."
Future Plans
In a statement, Mittal said, "I am delighted to join the Rajasthan Royals family. Cricket is a religion in India, and I look forward to contributing to the growth of this iconic franchise. Our focus will be on building a strong team culture, investing in young talent, and engaging with fans in new ways." The franchise also plans to upgrade its training facilities in Jaipur and explore opportunities for international expansion, including potential exhibition matches in the UK and the Middle East.
The Board of Control for Cricket in India (BCCI) has approved the ownership change, with IPL chairman Arun Dhumal stating, "We welcome Lakshmi Mittal to the IPL. His experience in global business will be an asset to the league." The transition is expected to be completed before the next IPL auction, allowing the new management to plan its strategy.
