THE COMPETITION COMMISSION OF INDIA (CCI) has approved the $1.78 billion (around ₹16,660 crore) acquisition of Royal Challengers Sports Pvt Ltd (RCSPL), the company that owns the Royal Challengers Bengaluru (RCB) franchises in both the Indian Premier League (IPL) and the Women’s Premier League (WPL). The approval marks a key regulatory milestone in one of the biggest franchise transactions in global sports.
The acquisition will be completed by a consortium comprising the Aditya Birla Group, The Times of India Group, Bolt Ventures, and a Blackstone-backed investment fund. The deal, first announced in March 2026, values RCB at approximately $1.78 billion, making it one of the most valuable cricket franchises in the world and among the highest-valued sports team transactions globally.
RCB was previously owned by United Spirits Ltd (USL), a subsidiary of global beverages company Diageo. In March, USL announced an all-cash agreement to divest its entire stake in Royal Challengers Sports as part of a broader strategic review. With CCI’s approval now secured, the transaction moves closer to completion, with the Board of Control for Cricket in India (BCCI) expected to formally ratify the change in franchise ownership.
The CCI approved the acquisition of 100% shareholding in Royal Challengers Sports by a consortium that includes Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II, and other affiliated entities. The regulator announced the approval through an official statement, confirming that the transaction had cleared India’s competition law requirements.
The acquisition comes on the back of a landmark period for the Bengaluru-based franchise. RCB captured its maiden IPL title earlier this year after years of near misses, significantly boosting the commercial value of the brand. In addition to the men’s team, the ownership includes the RCB women’s franchise, one of the marquee teams in the WPL, giving the consortium a presence across India’s two premier franchise cricket leagues.
For the Aditya Birla Group and its partners, the acquisition represents a major entry into the rapidly growing sports ownership space. The consortium brings together expertise across diversified industry, media, private equity and sports investments, reflecting the increasing institutionalisation of franchise ownership in Indian sport. The involvement of the Times Group also strengthens the convergence between media, sports content and team ownership, while Blackstone’s participation underscores the growing interest of global investment firms in sports assets.
The transaction further highlights the remarkable appreciation in IPL franchise valuations. Purchased for just over $110 million during the league’s inaugural auction in 2008, RCB’s valuation has grown to nearly 1.8 billion, illustrating the IPL’s emergence as one of the world’s most valuable sports leagues. The sale is expected to influence future franchise valuations across Indian cricket and reinforce investor confidence in premium sports properties.
