Rajasthan Royals $1.65 Billion Deal Faces Legal Fight

Dr. Annelies De Vos · 2026-05-04

The biggest franchise sale in Indian Premier League history is already hitting turbulence. Just hours after Lakshmi N. Mittal, his son Aditya Mittal, and Adar Poonawala announced they were buying the Rajasthan Royals for $1.65 billion (roughly 15,600 crore rupees), a rival bidding group threatened to sue. This deal also includes sister franchises Paarl Royals and Barbados Royals. It still needs regulatory approvals and could end up in court before it officially closes. ### Who Owns What Now The Mittal family will own about 75 percent of the franchise. Adar Poonawalla, who previously bid for Royal Challengers Bengaluru, gets an 18 percent stake. Former principal owner Manoj Badale keeps around 7 percent alongside other existing investors and will stay on the board. The transaction needs approval from the BCCI, the Competition Commission of India, and the IPL Governing Council. Closure is expected in the third quarter of 2026. ### Rival Consortium Prepares Legal Challenge A US-based group led by Kal Somani, who was once the frontrunner for the Royals, isn't backing down quietly. A source close to the consortium told Cricbuzz that a legal letter was sent the same day the Mittal-Poonawala deal was announced, with another communication heading to the BCCI. The group, backed by major billionaire families like the Waltons and the Hamps, claims its funding was fully secured. They allege the franchise intentionally dragged its feet on documentation and then sought side deals. "On our part, we had been prepared to close 10 days ago. There was a deliberate delay, and then side dealings," a source said. The consortium also raised due diligence questions: whether BCCI dues were cleared, the status of ongoing legal cases, and whether Badale would continue to have influence in the new structure. Whether they make the dispute entirely public is still debated, but litigation seems increasingly definite. ### BCCI Issues Stern Warning to IPL Clubs Separately, the BCCI has sent notices to all IPL franchises over conduct breaches, with Rajasthan Royals at the center of two high-profile incidents this season. Team manager Ravinder Singh Bhinder was fined $1,200 for using a mobile phone near the dugout. Captain Riyan Parag was fined 25 percent of his match fee and got a demerit point after being caught vaping in the dressing room. BCCI secretary Devajit Saikia responded with a stern public statement threatening more severe penalties for repeat offenses. The message was simple: the board won't tolerate individual conduct tarnishing the league's image. ### New Owners Face a Complicated Situation For the Mittals and Poonawala, the thrill of launching one of cricket's most recognizable brands is immediately dampened by reality. A legal challenge from a well-financed competitor, pending multi-regulator approvals, and an active disciplinary file with the BCCI all land on their desk before the ink is dry. Lakshmi N. Mittal, whose family originated in Rajasthan, has talked about his emotional attachment to the franchise. Aditya Mittal cited the Royals' tradition of supporting young talent as a motivating factor behind the acquisition. Those aspirations now depend on a clean regulatory route and a legal tussle that could drag on all year. ### What Happens Next The speed with which the BCCI and the courts resolve the Somani consortium's challenge will determine whether this deal stands firm or becomes the most disputed ownership transfer in IPL history. Visit the JeetWin Blog for more cricket news and updates.