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Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB) has been bought by a consortium of Aditya Birla Group (ABG), The Times of India Group (ToI), Bolt Ventures (Bolt), and Blackstone's perpetual private equity strategy (BXPE, Blackstone) for a valuation of $1.78 billion, which translates to approximately Rs 16,706 crore.
'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,' Kumar Mangalam Birla, Chairman, Aditya Birla Group, said in a media release.
"United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium," United Spirits said in a statement.
"The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone's perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction," the statement added.
RCB, one of the IPL's eight original franchises, won its first men's title in 2025 after 17 years in the league, with star batter Virat Kohli, one of cricket's biggest draws, at the heart of the team.
RCB reported revenue of $56 million for 2024-25, a 73% increase over a three-year period. RCB's acquisition by the consortium includes both men's IPL team and women's franchise in the Women's Premier League. The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
As per the sale agreement, Aryaman Vikram Birla, ABG's director, will be the chairman of RCB, while Satyan Gajwani of Times of India will be his deputy. "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," said Aryaman Birla.
"Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is."
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
