In the latest development, steel magnets Lakshmi Mittal has officially announced the acquisition of Rajasthan Royals. Jaipur-based franchise, one of the original teams Indian Premier League (IPL)It has been purchased for a whopping price of US$1.65 billion (approximately Rs 15,660 crore), making it one of the most high-profile deals in IPL history.
The announcement came as a big surprise, especially since it was led by a US-based consortium tomorrow somani-with the support of Rob Walton and this ford family– Recently believed to have secured ownership. The sudden change highlights the intense competition and high stakes involved in owning a franchise in the world’s richest cricket league.
Consortium structure and ownership details
Under the new arrangement, the Mittal family will hold a dominant 75 percent stake in the franchise, placing them as key decision makers. Adar PoonawalaThe company representing Serum Institute of India will hold 18 per cent stake, while the remaining 7 per cent will be held by existing investors, including the former major owners. -Manoj Badale.
Interestingly, Badale, who played a key role in shaping the franchise over the years, will remain associated with the team, albeit with a lesser stake. This continuity can help ensure stability during the transition phase.
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Strong Rajasthan roots add sentimental value for Lakshmi Mittal
The acquisition has a personal touch for Mittal, who has his roots in Sadulpur in northern Rajasthan. Having grown up in the region, the deal is seen not only as a business move, but also as a homecoming of sorts. Their deep association with the state is expected to further strengthen the franchise’s identity and fan engagement in the region.
Several leading global advisory firms were involved in the high-value transaction. The buyer consortium was guided by legal experts from Latham & Watkins LLP, Cyril Amarchand Mangaldas and Trilegal, while Goldman Sachs provided financial advisory and Price Waterhouse & Company LLP oversaw the tax structuring.
On the seller side, Rhine Group managed the sale process and acted as commercial advisor, Deloitte acted as financial advisor and EY acted as tax advisor. Legal assistance was provided by Macfarlanes LLP and AZB Partners. The scale and complexity of the deal underlines the growing financial complexity surrounding IPL franchises.
In the current season, RR is making headlines with its excellent performance. teenage sensation Vaibhav Suryavanshi Has emerged as a breakout star, playing a vital role in propelling the Royals towards the playoffs.
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