The BCCI will now independently examine the share-holding pattern, bank guarantees, and conduct a detailed financial analysis before ratifying the sale. The process is set to begin this month, and an official announcement is likely before October, although that is understood to merely be a formality at this stage.
The others in the consortium include Bolt Ventures, owned by prominent sports investor David Blitzer, who has stakes in Crystal Palace (Premier League), the Philadelphia 76ers (NBA), New Jersey Devils (NHL), Washington Commanders (NFL), Cleveland Guardians (MLB) and Real Salt Lake (MLS) in his vast portfolio.
Blackstone is the world’s largest alternative asset manager, dealing in real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Meanwhile, Times Internet Limited, led by Satyan Gajwani, is a media giant that holds ownership stakes in both MLC and London Spirit teams in the Hundred.
The sale process began officially in November 2025, when Diageo announced a strategic review of their non-core assets, of which RCB was a part. Several other big conglomerates, including the Glazers (owners of Manchester United) and Adar Poonawalla of the Serum Institute of India were in the running to acquire the franchise in a bidding process that witnessed several twists and turns.
Poonawalla is now part of a consortium led by billionaire industrialist Lakshmi Mittal who won the bid to acquire Rajasthan Royals for USD 1.65 billion.
Last month, RCB became the third team, after Chennai Super Kings and Mumbai Indians, to successfully win back-to-back IPL titles. Late last month, CEO Rajesh Menon said Virat Kohli – one of the biggest drivers of their commercial pull – would continue to play for “at least three-four years.”
In addition to two IPL titles, RCB has also won two WPL titles (2024 and 2026) under Smriti Mandhana’s captaincy.
