2 min readBengaluruUpdated: Mar 24, 2026 10:51 PM IST
A consortium led by the Aditya Birla Group (ABG) emerged as the lead bidder to acquire the Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB) for a whopping USD 1.78 billion (approximately Rs 16,706 crore).
Other parties involved in the group are Blackstone, an equity firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.
“Aditya Birla Group (“ABG”), The Times of India Group (“Times”), Bolt Ventures (“Bolt”), and Blackstone’s perpetual private equity strategy, BXPE (“Blackstone”) have signed a definitive agreement to acquire 100% of Royal Challengers Bengaluru (“RCB”), encompassing both the men’s Indian Premier League franchise and the Women’s Premier League franchise, from United Spirits Limited (“USL”), a subsidiary of Diageo plc. The transaction values the franchise at INR 166.6 billion (approximately US$1.78 billion),” confirmed the development by the new consortium on Tuesday.
The consortium bought a 100 per cent stake in RCB from United Spirits Limited (USL), the Bengaluru-based franchise’s previous owners.
As per the sale agreement, Aryaman Vikram Birla, Aditya Birla Group’s director, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
“The acquisition is subject to 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. Under the new ownership structure, Aryaman Vikram Birla, Director, Aditya Birla Group, will serve as Chairman and Satyan Gajwani of The Times of India Group will serve as Vice Chairman of the franchise,” the statement reads further.
The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
More to follow
