Latham & Watkins has advised the Lakshmi N. Mittal and Aditya Mittal in connection with their acquisition of Rajasthan Royals, an Indian Premier League (IPL) cricket franchise, in partnership with Cyrus and Adar Poonawala.
Following completion of the transaction, the Mittal Family will own approximately 75% of the Rajasthan Royals, with Cyrus and Adar Poonawala holding approximately 20%. Closing of the transaction is subject to customary closing conditions and is expected to take place in Q3 2026.
The Latham team was led by London corporate partners Farah O‘Brien, Nick Cline, and Jon Fox, with associates Faith Edmunds, Faris Shoubber, Nima Pourdad, and Annie Grimes. Advice was also provided on tax matters by London partner Simon Skinner, with associate Thomas O’Malley; and on entertainment, sports, and media matters by London partner Rachael Astin, with associate Alastair Mackichan.
