Arcelor Mittal Promoter Family Led by Aditya Mittal Considers Rajasthan Royals Acquisition

Rajasthan Royals Sale Process: Arcelor Mittal Promoter Family Evaluates Buyout

Key Figures:

• Aditya Mittal, CEO of Arcelor Mittal and co-founder of Arteqin Capital Limited
• Lakshmi Mittal, Executive Chairman of Arcelor Mittal and father of Aditya Mittal
• David Blitzer, American sports investor and co-leader of the Aditya Birla Group consortium

Background:

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The sale process of Rajasthan Royals, the winner of the inaugural IPL, is gaining momentum with multiple suitors submitting joint bids. Arcelor Mittal, a global steel giant, is now evaluating a buyout of the franchise, led by Aditya Mittal. The Mittal family's interests in the sports portfolio have been bolstered by their recent acquisition of a stake in the NBA team Boston Celtics.

Latest Developments:

The deadline for submission of binding bids for Rajasthan Royals lapsed on March 17, with at least four parties submitting proposals. The Mittal family's investment vehicle and potential partnership status remain unclear. Arteqin Capital Limited, managed by Aditya Mittal, focuses on six key areas, including Consumer, Technology, and Decarbonisation.

Competing Bids:

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The Aditya Birla Group consortium, led by David Blitzer, has submitted a joint binding bid for a controlling stake in Rajasthan Royals. Other parties expected to submit binding bids include entrepreneur Kal Somani, backed by Rob Walton of retail giant Walmart, and NBFC Capri Global.

Franchise Overview:

Rajasthan Royals has several notable achievements, including being the first team to lift an IPL trophy and having multiple home grounds. The team's 2025 squad included players like Ravindra Jadeja, Yashasvi Jaiswal, and Jofra Archer. Under the leadership of former Sri Lanka captain Kumar Sangakkara, the team reached the IPL final in 2022.

Valuation:

The sale process of Rajasthan Royals is targeting a valuation of $1 billion-plus. The franchise's majority stake sale process was initiated in December 2025, with The Raine Group acting as the sell-side advisor.