United Spirits Limited (USL), the Indian arm of London-based Diageo, said on Tuesday (March 24, 2026) that it has fully divested its stake in Royal Challengers Sports Pvt. Ltd. (RCSPL) to a consortium comprising Aditya Birla Group, Tech Word News Group, Bolt Ventures and New York-based private equity strategy Blackstone, BXPE, in an all-cash transaction valued at USD 1.76 billion.
According to a regulatory filing from the USL, the RCSPL owns and operates the Royal Challengers Bengaluru (RCB) franchises in the Indian Premier League (IPL) and Women’s Premier League (WPL).
Upon completion of this transaction, the consortium, through its ownership of RCSPL, would acquire the rights to own and operate the IPL and WPL facilities. RCB teams are the reigning champions in both IPL and WPL.
The women’s team won their second trophy earlier last month, while the men’s team will begin their title defense this Saturday (March 28, 2026).
Speculation that RCB would be for sale has been rife since the stampede outside the M Chinnaswamy Stadium on 4 June 2025 that killed 11 during the franchise’s victory celebrations. Tuesday’s announcement concludes a strategic review of the RCSPL launched by the USL last November.
The transaction is subject to the satisfactory completion of customary closing conditions and legal, regulatory and other approvals, including those of the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.
Praveen Someshwar, MD & CEO, USL said, “RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. It has built a globally recognized brand and a passionate fan base.
“We are excited about the future of RCB under new ownership. As the sport enters a new phase of growth in India and globally, we believe this is in the best interest of the franchise and our shareholders,” Someshwar added.
“We are proud to become the trustees of RCB and grateful to USL and Diageo for the franchise they have built. RCB’s championship-winning culture, its deep connection with Bengaluru and one of the most passionate fan bases in world sport make this an extraordinary opportunity,” the takeover consortium said.
Published – 24 March 2026 22:51 IST
