18 September 2026 (Navroze Bureau) : The Competition Commission of India (CCI) has approved the acquisition of Rajasthan Royals and two overseas cricket franchises by Westview Cricket Ltd, owned by the Lakshmi Mittal family, and Poonawalla Sports and Fitness Pvt Ltd, owned by Adar Poonawalla.
The transaction covers Rajasthan Royals in the Indian Premier League (IPL), Paarl Royals in South Africa’s SA20 and Barbados Royals in the Caribbean Premier League (CPL). The deal has an enterprise value of around $1.65 billion.
Mittal Family to Hold 75% Stake
Under the proposed ownership structure, the Lakshmi Mittal family, through UK-registered Westview Cricket, will acquire around 75% of the franchise group.
Adar Poonawalla’s Poonawalla Sports and Fitness will hold approximately 18%, while existing investor Manoj Badale will retain around 7%.
The transaction will bring the new investors into the ownership structure of the Royals franchise group, subject to completion of the remaining applicable approvals and closing requirements.
Three Cricket Franchises Included
The acquisition is broader than the IPL team alone.
It includes:
- Rajasthan Royals — Indian Premier League
- Paarl Royals — SA20, South Africa
- Barbados Royals — Caribbean Premier League
The three teams are linked through the wider Royals franchise structure. CCI’s official release confirmed approval for the acquisition of all three professional cricket franchises.
CCI Approval Follows Additional Information Request
The latest approval comes after the competition regulator had sought additional information from the parties in August.
The CCI had issued a Request for Information (RFI) after finding that some information submitted with the original filing was incomplete. The filing had been submitted on July 30.
The additional scrutiny included examination of the proposed shareholding, deal structure, businesses and affiliates involved in the transaction.
Rajasthan Royals Deal Announced in May
The $1.65-billion transaction was originally announced in May 2026.
At the time, the consortium said the Mittal family would hold about 75%, Poonawalla around 18% and existing investors around 7%. The deal was subject to approvals from the CCI, BCCI and IPL Governing Council.
What CCI Approval Means
CCI approval clears the competition-law review of the transaction in India.
The regulator’s role is to assess whether mergers and acquisitions could have an appreciable adverse effect on competition. The approval therefore removes an important regulatory hurdle for the proposed ownership change.
Royals Become Part of a Larger Global Sports Portfolio
The transaction gives the Mittal family and Poonawalla a combined ownership interest across cricket teams operating in three major franchise competitions.
For Rajasthan Royals, the deal also represents a change in the composition of its ownership group while retaining Manoj Badale as a shareholder.
Deal Still Has Other Steps
Although CCI approval has been granted, the transaction also involves the applicable requirements of the BCCI and IPL Governing Council, as well as completion of the transaction according to the agreed terms.
The parties had previously indicated that they expected the deal to close during the third quarter of 2026.
A Major Transaction in Indian Franchise Cricket
The $1.65-billion valuation makes the Rajasthan Royals transaction one of the major ownership deals in Indian franchise cricket.
With the acquisition covering teams in India, South Africa and the Caribbean, the deal also expands the commercial footprint of the new ownership group across multiple T20 leagues.