2 min learnBengaluruMar 24, 2026 10:35 PM IST
A consortium led by the Aditya Birla Group (ABG) emerged because the lead bidder to amass the Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB) for a whopping USD 1.78 billion (roughly Rs 16,706 crore).
Different events concerned within the group are Blackstone, an fairness agency of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Occasions of India.
“Aditya Birla Group (“ABG”), The Occasions of India Group (“Occasions”), Bolt Ventures (“Bolt”), and Blackstone’s perpetual personal fairness technique, BXPE (“Blackstone”) have signed a definitive settlement to amass 100% of Royal Challengers Bengaluru (“RCB”), encompassing each the lads’s Indian Premier League franchise and the Ladies’s Premier League franchise, from United Spirits Restricted (“USL”), a subsidiary of Diageo plc. The transaction values the franchise at INR 166.6 billion (roughly US$1.78 billion),” confirmed the event by the brand new consortium on Tuesday.
The consortium purchased a 100 per cent stake in RCB from United Spirits Restricted (USL), the Bengaluru-based franchise’s earlier house owners.
As per the sale settlement, Aryaman Vikram Birla, Aditya Birla Group’s director, would be the chairman of RCB whereas Satyan Gajwani of Occasions of India shall be his deputy.
“The acquisition is topic to customary closing circumstances, together with approval from the Board of Management for Cricket in India (“BCCI”), the Competitors Fee of India, and different relevant regulatory authorities. Below the brand new possession construction, Aryaman Vikram Birla, Director, Aditya Birla Group, will function Chairman and Satyan Gajwani of The Occasions of India Group will function Vice Chairman of the franchise,” the assertion reads additional.
The United Spirits Restricted is a subsidiary of UK-Diageo, they usually had been eager to maneuver away from RCB because the crew was not central to their enterprise plans.