The Economic Times

IPL in safest hands: Lalit Modi backs Mittal-Poonawalla takeover of Rajasthan Royals

The Mittal family, in partnership with Adar Poonawalla, is set to acquire a controlling stake in Rajasthan Royals. This significant deal values the franchise at around $1.65 billion. The acquisition includes the team's global footprint. Existing investors will retain a small stake. The transaction is expected to close in the third quarter of 2026, pending regulatory approvals.