Bengaluru, March 24 A consortium led by the Aditya Birla Group (ABG) emerged as the lead bidder to acquire the IPL franchise, Royal Challengers Bengaluru, for a staggering USD 1.78 billion (approximately Rs 16,706 crore) on Tuesday.
Other parties involved in the consortium are – Blackstone, an equity firm with Viral Patel as CEO, Bolt Ventures, owned by American investor David Blitzer, and the media conglomerate, Times of India.
"The consortium has reached an agreement with United Spirits Limited (USL) to acquire 100% stake in RCB, and the deal includes both the men's and women's teams of the franchise," a source close to the development informed