IPL champions RCB sold to Aditya Birla Group-led consortium for Rs 16,660 crore

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.