# Cricket: UK-based Indian business tycoon, Lakshmi M Mittal, and his family have agreed to acquire the Indian Premier League franchise Rajasthan Royals. The deal is around 27.5-billion-rand and also includes Paarl Royals in South Africa and Barbados Royals in the Caribbean. The Mittal family will own around 75-percent of the franchise following completion of the transaction, with Adar Poonawala of the Serum Institute of India holding around 18-percent. The remaining stake of about seven-percent will remain with the existing investors, including Rajasthan Royals’ current lead-owner Manoj Badale.
Cricket: A R27.5-billion deal has been struck for the acquisition of the IPL’s Rajasthan Royals