On March 24, Bengaluru, a consortium led by the Aditya Birla Group (ABG) acquired 100% equity stake in the IPL franchise, Royal Challengers Bengaluru, from its current owner, United Spirits Limited, for a staggering $1.78 billion (approximately ₹16,706 crore).
Other parties involved in the group include: Blackstone’s perpetual private equity strategy, BXPE, a firm led by Viral Patel, Bolt Ventures, owned by American investor David Blitzer, and the media conglomerate, Times of India.
"United Spirits Limited announced today that it has entered into definitive agreements to sell the 100% equity stake held in its wholly-owned subsidiary, Royal Challengers Sports Private Limited (RCSPL), to the consortium," USL stated in a press release.
"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 billion in a fully cash transaction," the statement added.
The transaction includes RCB's men's and women's (WPL) teams.
"RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and the Women's Premier League (WPL)."
"Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchises," USL stated.
The announcement also concluded the strategic review of RCSPL that was initiated by USL on November 5, 2025.
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.
Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: "This transaction marks an important milestone for USL as we sharpen our focus on our core beverage alcohol business to unlock its true potential. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL."
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, "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."
Aryaman Vikram Birla, director of ABG, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
Aryaman Birla 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."
Gajwani, Chairman, Times Internet Limited, said: "RCB is the reigning champion and the most popular brand in the IPL. We will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase."
Blitzer hoped to build on RCB’s recent success.
"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," he said.
Patel praised the RCB as one of the strongest sporting brands in the world.
"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," he added.
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx 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.