Rajasthan Royals Ownership Deal Worth Rs 15,600 Crore Faces Legal Dispute

The high-profile ₹15,600 crore acquisition of IPL franchise Rajasthan Royals has come under legal scrutiny, according to emerging reports, potentially setting the stage for a dispute despite the announcement of a definitive ownership agreement involving prominent industrialists Lakshmi N. Mittal, Aditya Mittal, and Adar Poonawalla.

The consortium led by the Mittal family and Poonawalla recently announced that they had acquired a majority stake in the franchise from Manoj Badale and the existing ownership group after the Kal Somani-led consortium reportedly withdrew from the bidding process. The deal, valued at approximately USD 1.65 billion, was described as one of the most significant franchise transactions in IPL history.

However, a report cited by Cricbuzz has claimed that the Kal Somani-led consortium is preparing to challenge the transaction legally. According to sources quoted in the report, legal consultations are underway in the United States, and a formal legal notice is expected to be issued soon. The group is also reportedly planning to escalate the matter to the Board of Control for Cricket in India (BCCI), raising questions about the transparency and timing of the deal process.

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The consortium has alleged procedural concerns during the bidding phase, including questions over financial dues, pending legal cases, and what they describe as “delays and side dealings.” They claim that despite being ready to finalise the transaction, certain unresolved issues and lack of clarity led to complications in concluding the deal.

In response, the Mittal-Poonawalla group has formally announced the acquisition, stating that Lakshmi N. Mittal and Aditya Mittal will hold approximately 75% ownership of the franchise, while Adar Poonawalla will own around 18%. The remaining stake, about 7%, will remain with approved existing investors, including Manoj Badale. The restructured board will include representatives from all major stakeholders, ensuring continuity in the franchise’s governance structure.

The official statement also highlighted continuity in leadership, with Badale expected to remain involved in an advisory capacity, acting as a bridge between the franchise’s past and its new ownership structure. The announcement emphasized long-term planning and global expansion, given that Rajasthan Royals also own international franchises in South Africa’s Paarl Royals and the Caribbean’s Barbados Royals.

Lakshmi N. Mittal, who has roots in Rajasthan, expressed his emotional connection to the franchise, stating that his passion for cricket and regional ties made the investment particularly meaningful. Aditya Mittal emphasized the franchise’s focus on talent development, while Adar Poonawalla described the Royals as a “premier IPL franchise with strong legacy and long-term potential.”

Despite the celebratory tone of the acquisition announcement, the emerging legal claims have introduced uncertainty around the deal’s final standing. If the dispute escalates, it could draw regulatory attention from the BCCI and potentially delay or complicate the ownership transition of one of the IPL’s most established franchises.

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