ROYAL CHALLENGERS BENGALURU have new owners. In a $1.78 billion (₹16,706 crore approx) purchase, a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures, and global private equity giant Blackstone have completed the purchase.
The sale includes both the men’s and women’s team, who are both reigning champions in the Indian Premier League and Women’s Premier League.
The “all-cash” deal was announced by United Spirits Limited (USL), the existing owner of the RCB teams in the IPL and WPL.
The announcement follows news earlier Tuesday that a consortium led by US entrepreneur Kal Somani, backed by Rob Walton of the Walmart family and Sheila Ford Hamp from the Hamp family, had acquired Rajasthan Royals for $1.63bn.
For context, the combined value of the Lucknow and Ahmedabad IPL franchises that the BCCI sold in 2021 was – ₹12,715cr.
Under the revised ownership setup, Aryaman Vikram Birla of the Aditya Birla Group will take on the role of chairman, while Satyan Gajwani from The Times of India Group will serve as vice chairman. The consortium also includes leading US sports investor David Blitzer, founder of Bolt Ventures, and Viral Patel, CEO of BXPE (Blackstone Private Equity Strategies Fund).
“Over the past two decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket, creating enormous value for India. RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport. We are delighted to become custodians of this asset and committed to further building this extraordinary legacy,” Kumar Mangalam Birla, chairman, Aditya Birla Group, said in a statement.
Praveen Someshwar, managing director and CEO at USL, said RCB “has grown into the most prominent and commercially successful franchise” in the IPL and the WPL. “Guided by its ‘Play Bold’ philosophy and a strong competitive spirit, it has built a globally recognised brand and a passionate fan base,” he said. “We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders.”
Gajwani, chairman, Times Internet Limited, added: “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 remaining rooted in Bengaluru and Karnataka and its incredible fanbase. We are committed to the people who built this championship-winning culture – the players, coaches, the leadership team, and the fans. We look forward to supporting the team as they take the pitch on Saturday to defend RCB’s title.”
Blitzer said the consortium would strive to build on RCB’s success. “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,” he remarked.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise’s enduring legacy and continued success,” Patel commented.
Aryaman Birla thought it a privilege to preside over the growth of the franchise. “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of 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.”
