Rajasthan Royals could be gearing up for a major shake-up. With IPL 2027 preparations underway and a new ownership group waiting in the wings, reports suggest Riyan Parag may lose the captaincy, with Yashasvi Jaiswal emerging as the frontrunner to lead the Royals.
IPL 2026 ended months ago, and franchises are already shifting focus to the 2027 season. New head coaches are being appointed, and trade talks are heating up across the league.
Amid all this, a big question has surfaced at Rajasthan Royals: is Riyan Parag’s time as captain about to end? According to Times of India journalist Sahil Malhotra, the ownership change at the franchise makes a captaincy switch highly likely.
Parag took charge after Sanju Samson was traded to Chennai Super Kings. He guided the Royals to the playoffs but fell short of the final after losing to Gujarat Titans in Qualifier 2. He was praised as a leader, though injuries have occasionally disrupted his campaigns.
The new owners are rumoured to be planning to hand the armband to Yashasvi Jaiswal. The left-handed opener has served as Parag’s deputy and was reportedly the front-runner for the captaincy last season before the role went to Parag instead.
Jaiswal has also led the Royals in Parag’s absence, giving him a small taste of the job. Still, his leadership experience is limited, both in the IPL and in domestic cricket.
Handing the captaincy to Jaiswal would be a high-stakes call. Supporters will point to his impact with the bat and his standing in the dressing room, while critics may question the lack of captaincy pedigree. Either way, it would signal a clear new direction under fresh ownership.
Parag made history by becoming the youngest captain in Royals history and the fifth-youngest in IPL history. His numbers as skipper tell a mixed story, with the batting returns decent but the average disappointing.
| Stat | Figure |
|---|---|
| Stand-in captaincy matches (2025) | 8 |
| Wins / Losses (2025) | 2 / 6 |
| Runs as stand-in captain (2025) | 393 |
| Runs as captain (last season) | 309 |
| Total matches as captain | 22 |
| Wins / Losses | 10 / 12 |
| Win percentage | 45.45% |
| Best season (2024) runs | 574 |
A win rate of 45.45% is not disastrous, but it may not be enough for owners looking to make a statement.
Parag also faced criticism off the field. He was fined 25% of his match fee and handed one demerit point by the BCCI after being caught on camera vaping inside the dressing room during an IPL 2026 match against Punjab Kings in Mullanpur.
He accepted a Level 1 breach of the IPL Code of Conduct under Article 2.21 for bringing the game into disrepute.
In May 2026, the Lakshmi Mittal family and Adar Poonawalla acquired a majority stake in the Rajasthan Royals franchise for USD 1.65 billion, approximately ₹15,660 crore. The deal replaced a previously stalled agreement with a U.S.-based investor group.
The acquisition covers the entire Royals sports group, including Rajasthan Royals in the IPL, Paarl Royals in SA20 and Barbados Royals in the Caribbean Premier League.
| Deal Detail | Status |
|---|---|
| Deal value | USD 1.65 billion (approx. ₹15,660 crore) |
| Competition Commission of India | Cleared |
| BCCI and IPL Governing Council | Pending |
| Closing stage | Q3 2026 |
The Competition Commission of India has cleared the transaction, but final ratification from the BCCI and the IPL Governing Council is still awaited.
Nothing is official yet. The captaincy talk remains a report and a rumour, and the franchise has not confirmed any decision. Much will depend on how quickly the ownership deal gets its final approval.
If the change does happen, it will mark a major turning point for the Royals heading into IPL 2027. Will Jaiswal rise to the challenge, or will Parag keep the armband? Fans will be watching closely.






