Aditya Birla Group-Led Consortium Acquire IPL Champions RCB for Rs 16,660 crore

Aditya Birla Group director Aryaman Vikram Birla will be the new chairman of RCB, while Satyan Gajwani of Times of India will be his deputy.

A consortium comprising of Aditya Birla Group, American sports investor David Blitzer's Bolt Ventures, US private equity firm Blackstone, and India media giants Times of India on Tuesday acquired IPL champions Royal Challengers Bengaluru for US$ 1.78 billion (approximately Rs 16,660 crore).

'Over the past 2 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,' Kumar Mangalam Birla, Chairman, Aditya Birla Group, said in a media release.

Other parties involved in the consortium include Blackstone's perpetual private equity strategy, BXPE, a firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.

"United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium," United Spirits said in a statement.

"The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone's perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction," the statement added.

RCB, one of the IPL's eight original franchises, won its first men's title in 2025 after 17 years in the league, with star batter Virat Kohli, one of cricket's biggest draws, at the heart of the team.

RCB reported revenue of $56 million for 2024-25, a 73% increase over a three-year period.

RCB's acquisition by the consortium includes both men's IPL team and women's franchise in the Women's Premier League.

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.

As per the sale agreement, Aryaman Vikram Birla, ABG's director, will be the chairman of RCB, while Satyan Gajwani of Times of India will be his deputy.

"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," said Aryaman Birla.

"Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is."

However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.

Manipal Hospitals' Dr Ranjan Pai along with US private equity firm KKR and Singapore investment major Temasek were also one of the bidders for RCB. Another consortium including Swedish private equity firm EQT and Premji Invest, the investment office backed by Wipro founder Azim Premji, also reportedly submitted a bid.

The effort to find a new owner for RCB, currently valued at around $105 million as per Forbes India, began in November last year by current owners United Spirits Ltd, the Indian arm of global beverage major Diageo.

United Spirits acquired RCB from original owner Vijay Mallya after his business ventures collapsed in 2016.

Rajasthan Royals Sold For US$ 1.63 billion

In another major development, Rajasthan Royals were sold to US-based Kal Somani-led consortium for US$ 1.63 billion (approximately Rs 15,290 crore).

The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).

Somani is an Arizona-based tech entrepreneur who has founded IntraEdge (technology services and solutions), Truyo.Ai (data privacy rights and AI governance) and Academian (edtech services).

The other contenders to buy the team, which won the inaugural trophy in 2008, were the Times Internet-led consortium, the Aditya Birla Group and the Mittal family led by ArcelorMittal CEO Aditya Mittal.