RCB sold for record 16,660 crore; now owned by Aditya Birla Group and others

A consortium comprising Indian and global business entities has acquired full ownership of the Royal Challengers Bengaluru franchise for an eye-watering sum of about USD 1.78 billion (₹16,660 crore). The all-cash deal was announced by United Spirits Limited (USL), the existing owner of the RCB teams in the IPL and WPL.

According to a media release, USL's board has approved the sale of the franchise to a consortium comprising Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone's perpetual private equity strategy, BXPE. Following the deal, both RCB teams—previously operated by USL's subsidiary Royal Challengers Sports Private Limited—will now be owned and run by the consortium.

The scale of the deal is significant, exceeding the combined value of the Lucknow and Ahmedabad IPL franchises, which were sold by the Board of Control for Cricket in India (BCCI) in 2021 for ₹12,715 crore (about $1.69 billion). Interestingly, the consortium was not yet formed in February, when at least eight investors had been shortlisted for RCB, whose men's and women's teams are current champions in the IPL and WPL.

Last November, global beverage giant Diageo, which owns USL in India, said in filings to the Securities and Exchange Board of India (SEBI) that it was conducting a "strategic review" of its investment in RCB. The company described cricket as a non-core business and aimed to conclude the sale by March 31.

The deal will now require approvals from the BCCI and the Competition Commission of India before the consortium formally takes control.

RCB, one of the original eight IPL franchises from 2008, was the second-most expensive team at the time, bought for USD 111.6 million by Vijay Mallya's United Breweries Group. In 2023, the franchise owners also bid ₹901 crore (around $110 million) to acquire the Bengaluru team in the WPL, making it the third-most expensive among the five teams.

In a statement, the consortium said Aryaman Birla will serve as chairman, while Satyan Gajwani will be vice-chairman. The group said it is "proud to become custodians" of RCB, highlighting the franchise's championship-winning culture, deep connection to Bengaluru, and one of the most passionate fanbases in global sport.

"We are committed to taking RCB to new heights, on the pitch and beyond," the statement added.

Praveen Someshwar, MD and CEO of USL, said RCB has grown into one of the most prominent and commercially successful franchises in both the IPL and WPL. He added that the move aligns with the company's long-term strategy and is in the best interest of stakeholders.

The consortium brings together a diverse set of investors. The Aditya Birla Group is a global conglomerate with interests across sectors, while Bolt Ventures is led by sports investor David Blitzer, who has stakes in teams across major global leagues. Blackstone is one of the world's largest alternative asset managers, and the Times of India Group is a leading media company with investments in multiple cricket properties.