Royal Challengers Bengaluru (RCB) has reportedly been sold to a consortium including the Aditya Birla Group, Times of India Group, David Blitzer and Blackstone at a valuation of approximately USD 1.78 billion, according to multiple international media reports.
Reuters reported that the IPL franchise, previously owned by United Spirits, part of global beverage giant Diageo, has been acquired by the consortium in what is expected to be one of the biggest franchise deals in Indian Premier League history.
The consortium is said to include members of the Aditya Birla Group, the Times of India Group, U.S. investor David Blitzer, and private equity giant Blackstone.
Reports indicate that Aryaman Vikram Birla is expected to take over as chairman of the franchise, while Times Group Vice Chairman Satyan Gajwani is likely to assume a leadership role within the new ownership structure.
The deal is subject to customary approvals, including those from the IPL Governing Council and the Board of Control for Cricket in India (BCCI).
Royal Challengers Bengaluru is one of the most popular franchises in the IPL, featuring global cricket stars over the years including Virat Kohli, AB de Villiers and Chris Gayle.
The reported USD 1.78 billion valuation further highlights the rapid growth in franchise values within the IPL, widely regarded as the most lucrative cricket league in the world. (Newswire)