CCI greenlights $1.65 billion purchase of three cricket franchises by Mittal family and Poonawalla
India's Competition Commission has approved a $1.65 billion deal that gives Westview Cricket Ltd and Poonawalla Sports and Fitness Pvt Ltd control of the Rajasthan Royals, Paarl Royals and Barbados Royals.
The Competition Commission of India has given its approval for a multi-billion-dollar acquisition involving three cricket franchises across three continents. Westview Cricket Ltd, a United Kingdom-registered company owned by Lakshmi Mittal and his son Aditya Mittal, together with Poonawalla Sports and Fitness Pvt Ltd, owned by Adar Cyrus Poonawalla, will purchase the Rajasthan Royals of the Indian Premier League, the Paarl Royals in South Africa and the Barbados Royals in the Caribbean.
The deal, valued at about $1.65 billion, was reviewed because it surpasses the monetary threshold that triggers a competition assessment. EM Sporting Holdings Ltd, incorporated in Mauritius, serves as the holding vehicle for Royal Multisport Pvt Ltd, which directly operates the Rajasthan Royals and its sister teams. The regulator’s clearance indicates that the transaction is not expected to harm market competition in the sports entertainment sector.
Why it matters
The approval clears a major cross-border sports ownership deal, reshaping the commercial landscape of cricket franchises worldwide.
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