'IPL In Safest Of Hands': Lalit Modi Reacts As Mittal Family & Adar Poonawalla Set To Acquire Rajasthan Royals In Whopping ₹15,660 Crore Deal
· Free Press Journal
A major off-field development in IPL 2026 has drawn a strong and emotional reaction from Lalit Modi, following the blockbuster acquisition of Rajasthan Royals by a consortium led by Lakshmi Mittal and Adar Poonawalla.
Taking to X, the IPL founder expressed his delight over the development, calling it “the best news one can think of for the IPL.” In his post, Modi praised the incoming owners as “two of the most savvy investors,” adding that the league “could not have better owners than this.” He further described the moment as one of personal pride, noting that it was gratifying to see prominent global business figures embrace a tournament he helped build.
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The best news’s one can think off for the @ipl - two of the most savvy investors - Ipl could not have a better owners than this. It’s such a day of pride and joy for me personally to see that Lakshmi Mittal and Adar Poonawalla have embraced something I spent my life building. Now… pic.twitter.com/akhPHX76ZR
— Lalit Kumar Modi (@LalitKModi) May 3, 2026
Modi’s statement reflected both optimism and emotional attachment to the league’s journey. “It’s such a day of pride and joy for me personally to see that Lakshmi Mittal and Adar Poonawalla have embraced something I spent my life building,” he wrote, expressing confidence that the IPL would now remain “in the safest of hands.”
The reaction comes amid reports that the Mittal family, in partnership with Poonawalla, is set to acquire Rajasthan Royals in a deal valued at around $1.65 billion, marking one of the biggest transactions in cricket franchise history.
RAJASTHAN ROYALS GOES TO THE MITTAL FAMILY AND ADAR POONAWALA.
— Mufaddal Vohra (@mufaddal_vohra) May 3, 2026
- RR has been sold for 15,660cr with 75% stake goes to ArcelorMittal, 18% stake to Adar Poonawala and 7% remains with the existing owner including Manoj Badale. pic.twitter.com/TDGmi4qr5l
The acquisition, pending regulatory approvals, signals the continued growth and global appeal of the IPL as a premier sporting and business property. Modi’s endorsement of the new ownership underscores the significance of the deal, not just financially but also in terms of the league’s legacy and future direction.
As the IPL continues to evolve, the entry of high-profile investors and the backing of its original architect highlight a new chapter for Rajasthan Royals and the tournament as a whole.