Mumbai: A consortium led by the Aditya Birla Group and The Times of India Group has acquired Royal Challengers Bangalore (RCB), one of the Indian Premier League’s most valuable franchises, for $1.8 billion.
The buyer group also includes Bolt Ventures (co-owned by David Blitzer) and a Blackstone fund. The transaction, which covers both the men’s IPL team and the Women’s Premier League side, marks a new benchmark for T20 cricket valuations in the world’s premier cricket league.
In a separate deal, the Rajasthan Royals were sold for $1.6 billion to entrepreneur Kal Somani, backed by Walmart’s Rob Walton and the Hamp family, owners of the NFL’s Detroit Lions. Both transactions underscore the growing interest of global sports investors in Indian cricket, according to The Economic Times.
RCB’s price is more than double last year’s $900 million sale of Gujarat Titans to the Torrent Group, fuelled by its massive fan following and strong advertising revenue. For seller United Spirits Limited (a Diageo subsidiary), the deal represents nearly 16-fold appreciation from its 2008 acquisition price.
The Rajasthan Royals, valued at just $67 million in 2008, have surged almost 25 times to $1.63 billion. Their valuation has also risen more than six-fold since 2021, when US-based RedBird Capital acquired a 15% stake for $37.5 million after Manoj Badale’s Emerging Media increased its holding to 65%.
The IPL attracted one billion viewers across television and digital platforms in 2025 — an unmatched figure for any single-league market — compared with the NBA’s 800 million to one billion and the English Premier L
eague’s 1.87 billion viewers worldwide.
Both deals are subject to standard approvals from the Board of Control for Cricket in India (BCCI), the IPL Governing Council, and relevant regulators. The BCCI will receive 5% of the transaction values.
Under the new ownership, Aryaman Vikram Birla, director at the Aditya Birla Group, will serve as RCB chairman, while Satyan Gajwani of The Times of India Group becomes vice chairman.
“It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This collaboration brings together deep expertise in 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,” said Aryaman Vikram Birla.
The RCB auction saw intense competition, with the winning consortium prevailing over bids from Serum Institute’s Adar Poonawalla, ArcelorMittal’s Aditya Mittal, and earlier-round interest from Premji Invest with EQT, as well as a group involving Manipal Group’s Ranjan Pai, KKR, and Temasek.
Satyan Gajwani said the consortium aims to take RCB to global prominence while remaining deeply rooted in its home base. “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 staying firmly anchored in Bengaluru and Karnataka and its incredible fanbase. We are committed to the people who built this championship-winning culture—the players, coaches, leadership team, and fans. We look forward to supporting the team as they take the pitch on Saturday to defend RCB’s title.”
David Blitzer, founder of Bolt Ventures, added: “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.”