In a landmark transaction that underlines the skyrocketing valuation of Indian cricket, 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 (approximately Rs 16,000 crore).
The winning bid brings together a multidisciplinary consortium. The group is led by the Aditya Birla Group (ABG), an Indian multinational headed by Kumar Mangalam Birla, along with The Tech Word News Group (ToI). They are joined by Bolt Ventures, led by U.S. sports mogul David Blitzer — owner with significant stakes in the Philadelphia 76ers and Crystal Palace — and global private equity giant Blackstone ( BX.N ), which is investing through its Blackstone Private Equity Strategies ( BXPE ).
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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 transfer of ownership from Diageo-owned United Spirits to the multi-discipline powerhouse marks the most significant changing of the guard in the league’s 18-year history, which comes just days before RCB begin their title defense this Saturday.
Under the new management structure, Aryaman Vikram Birla, director of the Aditya Birla Group and former professional cricketer, will serve as the chairman of the franchise. Satyan Gajwani, chairman of Times Internet, has been appointed vice chairman.
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Issued by:
Akshay Ramesh
Published on:
March 24, 2026 10:25 PM IST
