Aditya Birla Group Leads $1.78 Billion Acquisition of RCB

In a significant development within the sporting business, the Aditya Birla Group, accompanied by a consortium of heavyweight investors, has emerged victorious as the lead bidder for acquiring the IPL franchise Royal Challengers Bengaluru (RCB). The deal is reported to be worth a staggering USD 1.78 billion.

Alongside the Aditya Birla Group, the consortium also comprises Blackstone, led by CEO Viral Patel, and Bolt Ventures, owned by American investor David Blitzer. Media giant Times of India is also part of the group. The acquisition will span both men's and women's teams.

The United Spirits Limited, a UK-Diageo subsidiary, is selling RCB as the team was not part of their core business strategy. Aryaman Vikram Birla, director of the Aditya Birla Group, is slated to become RCB's chairman, with Satyan Gajwani from Times of India as his deputy, subject to clearances from relevant governing bodies.