Rajasthan Royals Deal Faces Legal Challenge

Billionaire Lakshmi Mittal’s planned acquisition of IPL franchise Rajasthan Royals has become the subject of a legal dispute in London. Two minority shareholders of Emerging Media Ventures Ltd., which indirectly owns a majority stake in the franchise, have filed a lawsuit claiming they were unfairly accused of misconduct and denied their share of the proceeds from the team’s reported $1.65 billion sale.

The shareholders, Bajan Boys Gully Cricket LLC and Halla Bol LLC, allege they are owed a combined $50 million from the transaction and are seeking to stop the forced transfer of their shares. They argue the company wrongly claimed they violated internal rules by investing in another short-format cricket league in the United States, an allegation they strongly deny.

The dispute comes as IPL franchise valuations continue to rise, attracting investments from some of the world’s wealthiest business leaders. Earlier this year, a consortium led by Lakshmi Mittal and Adar Poonawalla agreed to acquire Rajasthan Royals, highlighting the growing global appeal and commercial value of franchise cricket.

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