Consortium Clinches $1.78 Billion Deal for IPL's Royal Challengers Bengaluru

A consortium led by Aditya Birla Group, alongside Times of India Group, Bolt Ventures, and Blackstone, announced a $1.78 billion acquisition of the IPL franchise Royal Challengers Bengaluru on Tuesday. This move concludes a competitive bidding process aimed at taking over the team from United Spirits, owned by UK-based Diageo.

This strategic sale was initiated by United Spirits to focus on its core business, amid growing interest from affluent private equity firms and individual investors, attracted by IPL's lucrative revenue model and massive global viewership. The Bengaluru franchise deal includes assets in both the men's and women's leagues.

Investor interest in IPL is spurred by booming franchise revenues and a lucrative revenue-sharing model supported by the BCCI. With broadcast rights recently valued at over $6 billion, the league, backed by notable Bollywood figures and industrialists, continues to draw significant capital, exemplified by this recent high-profile acquisition.