In a landmark transaction that underscores the skyrocketing valuation of Indian cricket, the reigning Indian Premier League (IPL) champions, Royal Challengers Bengaluru (RCB), have been acquired by a high-profile consortium for a staggering USD 1.78 billion (Rs 16,660 crore).
The winning bid brings together a multi-industry consortium. The group is led by the Aditya Birla Group (ABG), the Indian multinational headed by Kumar Mangalam Birla, alongside The Times of India Group (ToI). Joining them are Bolt Ventures, spearheaded by American sports tycoon David Blitzer—an owner with significant stakes in the Philadelphia 76ers and Crystal Palace—and the global private equity giant Blackstone (BX.N), which is investing through its Blackstone Private Equity Strategies (BXPE).
The acquisition of RCB came in the second half of a historic double-header Tuesday for the IPL business. US-based consortium led by entrepreneur Kal Somani, backed by the families behind Walmart and Ford, reportedly secured the Rajasthan Royals franchise for USD 1.63 billion (Rs 15,342 crore)
The acquisition, announced on Tuesday, is currently awaiting formal approval from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India. This transition of ownership from Diageo-owned United Spirits to a multi-industry powerhouse marks the most significant changing of the guard in the league’s 18-year history, occurring just days before RCB begins its title defence this Saturday.
Under the new leadership structure, Aryaman Vikram Birla, Director at Aditya Birla Group and a former professional cricketer, will serve as the Chairman of the franchise. Satyan Gajwani, Chairman of Times Internet, has been named Vice Chairman.
The seller, United Spirits Limited (USL)-the India arm of UK-based drinks giant Diageo – initiated a strategic review of its 100 percent holding in November. The company labeled the Bengaluru franchise as “non-core” to its primary alcohol business, choosing to capitalise on the league’s record valuation. Investment bank Houlihan Lokey recently pegged the IPL’s total value at a massive USD 18.5 billion, driven by skyrocketing team revenues and media rights.
‘RCB ONE OF THE MOST COMPELLING FRANCHISES’
The new owners expressed a shared vision to transform the “Bold” brand into a global sporting institution. Kumar Mangalam Birla, Chairman of the Aditya Birla Group, noted that the IPL has changed the face of Indian cricket.
“Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India. RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport. We are delighted to become custodians of this asset and committed to further building this extraordinary legacy.”
The inclusion of Blackstone and Bolt Ventures signals a shift toward international sporting standards.
David Blitzer, Founder, Bolt Ventures, said: “RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success.”
Viral Patel, CEO of BXPE, highlighted Blackstone’s long-standing commitment to India, while David Blitzer of Bolt Ventures pointed out that the opportunity at RCB stands out even among his global portfolio.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise’s enduring legacy and continued success.”
For Aryaman Vikram Birla, the transition is a privilege.
“It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses. Together, we will continue to Play Bold – on the pitch, in the community, and for the fans who make RCB what it is,” he said.
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