Rajasthan Royals sold for $1.65 billion as global investors flood Indian cricket market. Steel magnate Laxmi Mittal and vaccine tycoon Adar Poonawalla acquired the franchise, outbidding a U.S. consortium backed by Walmart's Rob Walton. This marks the second billion-dollar IPL franchise sale in a month, following Blackstone's $1.8 billion acquisition of Royal Challengers Bengaluru in March. The Indian Premier League has become a magnet for international capital seeking exposure to cricket's booming economy. On a per-match basis, IPL ranks as the world's second most valuable sports league after the NFL, valued at $18.5 billion. With a potential fanbase exceeding one billion people and strong capital appreciation prospects, investors are increasingly betting on IPL franchises to deliver stable recurring cash flows and long-term growth.
