New Delhi: In a record-shattering deal, a consortium led by the Aditya Birla Group (ABG) on Tuesday emerged as the lead bidder to acquire IPL franchise Royal Challengers Bengaluru (RCB). The 2025 IPL winners were bought for a gigantic USD 1.78 billion (approximately INR 16,706 crore).
Other parties involved in the group are – Blackstone, an equity form of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India. A source close to the development confirmed the deal to news agency PTI on March 24, shortly after another franchise Rajasthan Royals (RR) also got a new buyer in form of Kal Somani.
Earlier, the one-time IPL winners were put on sale after the United Spirits Limited, a subsidiary of UK-Diageo – owners of RCB, were keen sell the franchise as they did not prove central to their business plans.
Record-shattering deal confirms RCB sale
‘The consortium has reached an agreement with United Spirits Limited (USL) to buy 100 percent stake in RCB and the deal includes both men’s and women’s team of the franchise,’ a source close to the development informed PTI.
As per the sale agreement, Aryaman Vikram Birla, ABG’s director, will be the chairman of the Royal Challengers while Satyan Gajwani of Times of India will be his deputy. However, some formalities such as ratification from the BCCI, IPL governing council, its WPL counterpart and the Competition Commission of India still remain pending.
RCB, earlier in the day, announced that they will pay a heartfelt tribute to the victims of 2025 stampede at the Chinnaswamy stadium ahead of the new edition. To honour the 11 fans who lost their lives, 11 seats would be permanently kept empty at the stadium and all the RCB players will wear jersey number 11 during practice.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx Rs 15,290 crore), The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).