IPL: RCB sold to Aditya Birla-TOI-Blackstone consortium for $1.8bn
Royal Challengers Bangalore (RCB) has agreed to be acquired by a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures (David Blitzer) and a Blackstone fund for $1.8 billion; the deal remains subject to customary closing conditions and regulatory approvals.
This deal covers both the men's and women's teams, with Aryaman Vikram Birla stepping in as chairman and Satyan Gajwani as vice chairman.
The move shows how IPL franchises are becoming major magnets for global investors, thanks to their huge fan bases and valuable media rights.
Sale still needs regulatory approval and includes a 5% fee
RCB's price tag is double what the Gujarat Titans sold for, highlighting just how much buzz there is around IPL worldwide right now.
The sale still needs regulatory approval and includes a 5% fee to the BCCI.
With global investors lining up for teams (like Rajasthan Royals recently selling for $1.6 billion), it's clear the IPL isn't just about cricket anymore: it's big business on a global stage.