The much-awaited sale of the Royal Challengers Bengaluru (RCB) franchise has finally been completed. A powerful consortium led by the Aditya Birla Group, along with The Times of India Group, Blackstone, and Bolt Ventures, is now the new owner of the team. The deal was signed at a massive valuation of US$1.78 billion. This equals around INR 16,700 crore.
This is one of the biggest deals in franchise cricket history. It also makes RCB one of the most expensive teams in global sports leagues. Earlier, there were talks that Adar Poonawalla could buy a stake. However, the deal did not go through. The Aditya Birla Group eventually won the bid.
New owners aim for global growth
Kumar Mangalam Birla shared his thoughts on the big move. He said, “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.”
Aryaman Birla also spoke about the partnership. He said, “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.”
The Times of India Group will hold the second-largest stake. Satyan Gajwani said, “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.”
United Spirits Limited has now exited ownership. Praveen Someshwar said, “We are excited for the future of RCB under the stewardship of the new owners. 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. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support – the BCCI, the fans, players and employees.”
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