Aditya Birla Group (ABG), The Times of India Group (ToI), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy (BXPE, Blackstone) have all acquired Royal Challengers Bangalore (RCB). The acquisition is valued at USD 1.78 billion, or around INR 16,706 crore.
The four aforementioned groups have signed a final deal with United Spirits Limited (USL), a subsidiary of UK-Diageo plc, to acquire a 100% share in RCB. The deal includes both men’s and women’s teams from the Indian Premier League (IPL) and Women’s Premier League (WPL).
Following the new ownership structure, Aryaman Vikram Birla, Director at the Aditya Birla Group, would be Chairman, with Satyan Gajwani of the Times of India Group serving as Vice Chairman. The consortium also includes David Blitzer, the founder of Bolt Ventures, and Viral Patel, CEO of BXPE.
The deal is, obviously, subject to usual closing conditions, including permission from the Board of Control for Cricket in India (BCCI), which regulates the IPL and WPL, as well as the Competition Commission of India and other relevant regulatory bodies.
“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, Aditya Birla Group.
Satyan Gajwani, Chairman, Times Internet Limited, said, “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.”
On the deal, Blitzer said, “RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success.”
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise’s enduring legacy and continued success,” Patel commented.
Aryaman Birla, the new Chairman, said, “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses. Together, we will continue to Play Bold – on the pitch, in the community, and for the fans who make RCB what it is.”
