Ipl franchise valuation

Indian steel magnate Lakshmi N Mittal and family, alongside vaccine billionaire Adar Poonawalla, have struck a $1.65 billion deal for Indian Premier League franchise Rajasthan Royals, a joint statement said on Sunday.

The IPL is the world's richest cricket tournament and mixes sport and show business in a glitzy format. It is broadcast around the world and features top international stars, with some teams fronted by Bollywood superstars.