With the search for Rajasthan Royals new owner still on ahead of the upcoming Indian Premier League (IPL 2026) season, Indian billionaire Aditya Mittal is the latest to enter the race to acquire the franchise. Currently, the ownership of the inaugural IPL champions primarily rests with British-Indian entrepreneur Manoj Badale’s Emerging Media Ventures, which holds roughly a 65% stake while the Minority shares belong to investors like RedBird Capital Partners and Lachlan Murdoch.
Apart from Rajasthan, Royal Challengers Bengaluru (RCB) are also on the lookout for a new buyer and the IPL ownership landscape is set to witness an overhaul soon.
It is understood that the CEO of global steel giant Arcelor Mittal, Aditya Mittal is interested in the buyout of the Rajasthan Royals. Furthermore, the binding bids have also been submitted by the deadline, which was April 17. The Mittal family have now emerged as one of the key contenders for the purchase of the Royals alongside the Aditya Birla Group–David Blitzer consortium and other joint bidders. Notably, at least four parties have submitted bids.
A source privy to the developments was quoted as saying in a report by Moneycontrol,
“ Post due diligence, the deadline for submission of binding bids for Rajasthan Royals lapsed by the early hours of March 17. At least 4 parties have submitted proposals.”
It further added, “After picking up a stake in NBA team Boston Celtics as part of a consortium, the Mittal family is keen on bolstering its sports portfolio with a prized India asset and feels this was a good opportunity. They are bullish on this space as a group.”
However, if the bid from the Mittal group proceeds further, it is still uncertain whether they will decide to partner with another entity or pursue the deal independently.
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The Rajasthan Royals home matches were initially slated to be shifted away from Sawai Mansingh Stadium in Jaipur for IPL 2026 due safety and structural reasons after the relationship had already deteriorated with the Rajasthan Cricket Association (RCA) owing to match-fixing allegations.
However, both parties seemed to have resolved the matter now with the Royals playing four home games in Jaipur while they will play three other home matches in Guwahati.
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