Lalit Kumar Modi on Saturday hailed the proposed acquisition of Rajasthan Royals by the Mittal family in partnership with Adar Poonawalla, calling it “the best news” for the Indian Premier League.
In a post on X earlier in the day, Modi said the entry of “two of the most savvy investors” into the IPL ecosystem ensures the league will remain “in the safest of hands”, adding that it was a moment of personal pride to see the franchise he helped build attract such global capital. He also indicated that Aditya Mittal is expected to lead the team on behalf of the Mittal family.
The remarks come after the Mittal family — led by Lakshmi N. Mittal and Aditya Mittal — reached a definitive agreement to acquire a controlling stake in Rajasthan Royals alongside Poonawalla. The deal with existing owner Manoj Badale and his consortium values the franchise and its associated teams at around $1.65 billion.
Also Read: Mittal family set to own 75% of Rajasthan Royals in $1.65 billion deal
Following completion, the Mittals will hold about 75% of the franchise, while Poonawalla will own roughly 18%. The remaining 7% will stay with existing investors, including Manoj Badale, who will continue to be associated with the team in a supporting role.
The acquisition also covers the Royals’ global footprint, including Paarl Royals in South Africa and Barbados Royals in the Caribbean, underlining the franchise’s expanding international presence.
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