In a dramatic turn of events in Indian cricket’s business landscape, Lakshmi Mittal has secured a definitive agreement to acquire Rajasthan Royals at a valuation of $1.65 billion (approximately Rs 15,660 crore). The deal abruptly displaces a previously announced US-led consortium backed by prominent global investors. This high-value transaction underscores the surging financial appeal of the Indian Premier League and signals intensifying competition for ownership of elite sports assets.