A consortium led by Aditya Birla Group and the Times of India Group has purchased the Indian Premier League (IPL) champions Royal Challengers Bengaluru (RCB) for $1.78 billion. Other members of the consortium include Bolt Ventures and Blackstone’s perpetual private equity strategy. The acquisition involves both the men’s and women’s teams of RCB in the IPL and WPL.
The consortium, consisting of four groups, has signed a definitive agreement with United Spirits Limited (USL) to acquire a 100 percent stake in RCB. Aryaman Vikram Birla from Aditya Birla Group will be the Chairman, and Satyan Gajwani from the Times of India Group will serve as Vice Chairman. Additionally, David Blitzer from Bolt Ventures and Viral Patel from BXPE are part of the consortium.
The acquisition is contingent upon customary clearance from regulatory bodies, the Board of Control for Cricket in India (BCCI), and the governing bodies for IPL and WPL. Previously, Diageo plc had put RCB up for sale, attracting interest from various potential buyers, including Adar Poonawalla of Serum Institute of India.
