As per the arrangement, the Mittal Family will be the lead owners with control. They will have approximately 75 per cent stake in the franchise with Adar Poonawalla having 18 per cent. The remaining 7% will be held by existing investors, including Manoj Badale, who ironically was the lead owner. “Mr Badale will continue to support Rajasthan Royals, acting as a bridge between the past and the present, and bringing his deep knowledge and experience of cricket to the franchise,” the consortium said in a joint statement.
Lakshmi Mittal announces acquisition of Rajasthan Royals franchise
