Key Points:
- Aditya Birla Group and Times of India Group acquired Royal Challengers Bengaluru (RCB) for $1.78 billion, the most expensive IPL franchise sale ever.
- Aryaman Birla and Satyan Gajwani will lead the consortium, owning both the men’s and women’s champion teams.
- The deal awaits BCCI and Competition Commission of India approvals before the handover is complete.
A consortium led by the Aditya Birla Group and the Times of India Group has agreed to buy Royal Challengers Bengaluru for $1.78 billion in an all-cash deal, marking the most expensive franchise sale in Indian Premier League history.
United Spirits Ltd., the current owner of Royal Challengers Bengaluru, said Tuesday its board approved the sale to a consortium including the Aditya Birla Group, the Times of India Group, Bolt Ventures, and Blackstone’s BXPE strategy. The agreement transfers full ownership and operational control of both the men’s and women’s teams.
The transaction, valued at about 1.78 billion U.S. dollars (₹16,660 crore), exceeds the combined ₹12,715 crore paid for the Lucknow and Ahmedabad franchises in 2021. It underscores the growing commercial value of cricket leagues in India and globally.
United Spirits, owned by global beverage company Diageo, had announced a strategic review of its investment in the franchise last year, citing cricket as a non-core business. The company aimed to complete the sale by March 31, aligning with its broader portfolio restructuring.
Praveen Someshwar, managing director and CEO of United Spirits, said the franchise has become a leading brand in both the Indian Premier League and the Women’s Premier League. “It has built a globally recognised brand and a passionate fan base,” he said, adding that the company believes the new ownership will support future growth.
Consortium Secures Full Ownership of Men’s and Women’s Teams
The acquiring consortium said it will “own and operate” both teams, which are the reigning champions in their respective leagues. The men’s team won its first IPL title in 2025, while the women’s team also holds the current Women’s Premier League crown.
Aryaman Birla will serve as chairman of the consortium, while Satyan Gajwani of the Times of India Group will be vice chairman. The group described the acquisition as an opportunity to build on the franchise’s competitive success and strong fan base.
“Royal Challengers Bengaluru’s championship-winning culture and deep connection to Bengaluru make this an extraordinary opportunity,” the consortium said in a statement. It added that it aims to take the franchise “to new heights, on the pitch and beyond.”
Deal Surpasses Previous IPL Franchise Valuations
The sale marks a sharp increase in franchise valuations since the IPL’s inception in 2008, when the Bengaluru team was purchased for $111.6 million by United Breweries Group. The women’s team was later acquired for ₹901 crore in 2023, ranking among the most expensive in the Women’s Premier League.
The current deal highlights the expanding financial ecosystem around cricket, driven by media rights, sponsorships, and global investor interest. Analysts say the involvement of international investors reflects confidence in the long-term growth of sports franchises in India.
Bolt Ventures, part of the consortium, is backed by investor David Blitzer, who holds stakes in multiple global sports teams. Blackstone, another partner, is one of the world’s largest alternative asset managers, with investments across private equity, real estate, and infrastructure.
Regulatory Approvals Pending Before Handover
The transaction remains subject to approvals from the Board of Control for Cricket in India and the Competition Commission of India. Once cleared, the consortium will formally assume control of the franchise.
Officials did not disclose a timeline for completion but indicated the process is expected to conclude within the current financial year. Until then, United Spirits will continue overseeing operations.
The sale represents a significant milestone for the IPL, reinforcing its position as one of the world’s most valuable sports leagues and signalling continued investor appetite for premium cricket assets.
