Defending champion RCB sold for record-breaking Rs 16,700 crore IPL deal

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.

The consortium will acquire 100 per cent stake in RCB from United Spirits Limited (USL), a subsidiary of UK-based Diageo plc. Through the deal, the four-group consortium will own both the men's and women's teams of RCB in the IPL and WPL, respectively.

"Over the past two 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 following the acquisition.

A&W Capital, Moelis, and Khaitan & Co. acted as advisors and counsel for the buyers, while Citi India and AZB Partners served as sell-side advisor and counsel to USL.

With this, Aryaman Vikram Birla, Director, Aditya Birla Group, will be appointed as the Chairman of RCB, while Satyan Gajwani of the Times of India Group will take on the role of Vice Chairman. The consortium also includes David Blitzer, founder of Bolt Ventures, and Viral Patel, CEO of BXPE.

The takeover will be complete following the customary closing conditions, including approval from the Board of Control for Cricket in India (BCCI), the Competition Commission of India, and other applicable regulatory authorities.

"RCB is the reigning champion and the most popular brand in the IPL. As The Times of India Group, together with our partners, we will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase. We are committed to the people who built this championship-winning culture - the players, coaches, the leadership team, and the fans. We look forward to supporting the team as they take the pitch on Saturday to defend RCB's title," Satyan Gajwani, Chairman, Times Internet Limited.

Blitzer said the consortium would strive to build on RCB's success. "RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise's championship success," he remarked.

RCB was among original eight franchises, bought by Vijay Mallya for $111.6 million in 2008. The ownership was transferred to UK-based Diageo, which took over USL and, by extension, RCB in 2016 after Mallya's exit from India.

"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. Together, we will continue to Play Bold - on the pitch, in the community, and for the fans who make RCB what it is," Aryaman Birla, the new chairman of RCB said.

"We are excited to invest in RCB, building on Blackstone's long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise's enduring legacy and continued success," Patel commented.

USL came under pressure to divest the team as cricket is not their primary business. This came after the stampede on June 4, 2025 outside the M Chinnaswamy Stadium in Bengaluru, where 11 fans lost their lives and several other were injured during the team's victory celebrations.

Diageo subsequently decided to sell the franchise and informed the stock exchange in November last year, committing to complete the process by March 31.

"We are excited for the future of RCB under the stewardship of the new owners. As sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB's journey for their continued support - the BCCI, the fans, players and employees," said Praveen Someshwar, MD & CEO, USL.

"This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. Guided by its 'Play Bold' philosophy and a strong competitive spirit, it has built a globally recognized brand and a passionate fan base."