Daijiworld Media Network – Mumbai
Mumbai, Mar 24: In a record-shattering deal in the Indian Premier League (IPL), a consortium led by the Aditya Birla Group has acquired franchise Royal Challengers Bengaluru (RCB) for $1.78 billion (over Rs 16,000 crore).
The consortium includes the Aditya Birla Group, the Times of India Group, David Blitzer’s Bolt Ventures, and US-based investment firm Blackstone. The deal has been struck with United Spirits Limited (USL), a subsidiary of UK-based Diageo plc, for the acquisition of a 100% stake in the defending IPL champions, reports NDTV Sports.
Aryaman Vikram Birla, director at the Aditya Birla Group, will assume the role of chairman of the franchise, while Satyan Gajwani of the Times of India Group will serve as vice-chairman.
“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,” said Kumar Mangalam Birla, chairman of the Aditya Birla Group.
Satyan Gajwani, chairman of Times Internet Limited, added: “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.”
Earlier, Rajasthan Royals was acquired by a US-based consortium led by Kal Somani for $1.63 billion (approximately Rs 15,290 crore). The Somani-led consortium includes Rob Walton of the Walmart family and the Hamp family of Ford Motor Company.
Somani, an Arizona-based technology entrepreneur, is the founder of IntraEdge (technology services and solutions), Truyo.AI (data privacy rights and AI governance), and Academian (edtech services).