RCB acquired by consortium comprising Aditya Birla Group, Bolt Ventures, Blackstone, and The Times of India Group

Indian cricket franchise Royal Challengers Bengaluru (RCB) has been bought by a consortium comprising global business entities Aditya Birla Group, Bolt Ventures, The Times of India Group, and BXPE, Blackstone’s perpetual private equity strategy.

RCB’s men’s and women’s teams have been acquired for a sum of USD 1.78 billion (INR 16,660 crore). The consortium has bought the reigning Indian Premier League (IPL) and Women’s Premier League (WPL) champions from United Spirits Limited (USL), a subsidiary of Diageo plc.

As per the release, the deal is subject to “customary closing conditions including approval from the Board of Control for Cricket in India (BCCI), the Competition Commission of India, and other applicable regulatory authorities.”

Following the acquisition, Aryaman Vikram Birla, Director of Aditya Birla Group, will serve as RCB Chairman, with Satyan Gajwani of The Times of India Group serving as Vice Chairman of the franchise. 

Kumar Mangalam Birla, Chairman, Aditya Birla Group, commented:

“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.”

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.”

David Blitzer, Founder, Bolt Ventures, 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.”

Viral Patel, Chief Executive Officer of BXPE, stated:

“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.”

Aryaman Vikram Birla, Director, Aditya Birla Group, 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.”

Praveen Someshwar, Managing Director & CEO, USL, added:

“This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. Guided by its ‘Play Bold’ philosophy and a strong competitive spirit, it has built a globally recognized brand and a passionate fan base. We are excited for the future of RCB under the stewardship of the new owners. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support – the BCCI, the fans, players and employees.”