The global billionaires are targeting big stakes in the Indian Premier League (IPL) franchises. American business tycoon David Blitzer has entered the race to buy a majority stake in an IPL franchise.
The race has become intense as the American billionaire is in serious talks with two IPL franchises – Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR).
David Blitzer raises the heat as he eyes the stakes in RCB
As reported by Reuters, David Blitzer is closely studying the Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) before making a final move.
Your daily dose of cricket!
It is being said that the discussions are valuing the Royal Challengers Bengaluru at about $1.8 billion, which highlights the growing interest of global investors.
A source close to the development confirmed to this portal that Blitzer, who co-owns Harris Blitzer Sports & Entertainment, is carefully checking the details of RCB and RR, and he is serious about buying a massive stake in one of these IPL franchises.
Glazer vs Blitzer: Global Giants Clash
Avram Glazer, co-chairman of Manchester United and owner of the NFL’s Tampa Bay Buccaneers, has also already placed bids for both IPL teams. Now, it is a straight fight between global sports giants.
Blitzer already owns stakes in top American teams like the Philadelphia 76ers and the New Jersey Devils. Buying an IPL team will add cricket to Blitzer’s powerful sports empire.
Big money players join the race
Global investment firms like KKR and Blackstone are also exploring deals in the IPL. Blackstone has also shown special interest in RCB. India’s own business giants, like Adar Poonawalla, have promised a strong bid for the Royal Challengers Bengaluru.
Read Also: PSL final to be shifted outside Pakistan as Mohsin Naqvi makes shocking move
Indian billionaire and Manipal Education and Medical Group chairman Ranjan Pai is also eyeing a stake in the RCB. Well, the deadline for final bids is set for mid-March. No deal can close without approval from the Board of Control for Cricket in India (BCCI), the world’s richest cricket board.
Why does everyone want an IPL team?
The IPL has become a money machine. The defending champions, Royal Challengers Bengaluru, now carry a mind-blowing value of around $1.8 billion. That number has shocked the sports world. Revenues have grown strongly in the last three years. They reported $56 million in revenue in 2024-25, a 73% increase over the last three years.
On the other hand, the Rajasthan Royals have done even better in growth rate, with a massive 136% jump in earnings over three years. The IPL itself is now valued at $18.5 billion. The Indian T20 league has now become one of the richest sports events in the world.
Alcohol giant Diageo, which owns RCB, decided to sell the IPL franchise, as they see it as non-core to their liquor business. Advisory firms are running the sale process, while Raine Group is guiding Rajasthan Royals and Citigroup is handling the Bengaluru side.
