Royal Challengers Bengaluru sold for $1.78 billion
Consortium has entered into definitive agreement to purchase a 100% stake in the franchise
Dubai: The Royal Challengers Bengaluru (RCB) franchise is set to change hands after a consortium of major companies agreed to acquire it in a deal valued at approximately $1.78 billion. The incoming ownership group brings together the Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s perpetual private equity strategy (BXPE).
This consortium has entered into a definitive agreement with United Spirits Limited (USL), a subsidiary of UK-based Diageo plc, to purchase a 100 per cent stake in the franchise. The acquisition includes both the men’s Indian Premier League (IPL) team and the women’s Premier League (WPL) side.
The transaction, however, remains subject to regulatory approvals. Clearance is required from the Board of Control for Cricket in India (BCCI), the Competition Commission of India, and other relevant authorities before the takeover can be finalised.
“We wish to inform you that the board of directors of United Spirits Limited at its meeting held today, i.e., March 24, 2026, has inter alia approved the sale of 14,690 equity shares of Royal Challengers Sports Private Limited (“RCSPL”), a wholly owned subsidiary of USL, for an aggregate consideration of Rs166.6b, subject to adjustments and other conditions set out in the Share Purchase Agreement (SPA) dated March 24, 2026 executed by and amongst USL, RCSPL, and Bolt IPL Holdings LLC; Aelius Investments Pte Ltd; Asia Investment Topco II Pte Ltd; Times internet Limited; and Metropolitan Media Company Limited (the “Proposed Transaction” and such parties, the “Parties”),” the company said in its statement to the regulatory bodies.
“Upon completion of the Proposed Transaction in accordance with the SPA (which is subject to customary conditions including the receipt of all requisite approvals as required to give effect to the Proposed Transaction, including from the Competition Commission of India and the Board of Control for Cricket in India), USL will cease to hold any shareholding in RCSPL and consequently RCSPL will cease to be a subsidiary of USL,” the company said.
Aryaman Vikram Birla, a director at the Aditya Birla Group, is expected to take over as the new chairman of RCB. A former cricketer, he represented Madhya Pradesh in domestic cricket and had a stint with Rajasthan Royals in the IPL. The 28-year-old made his First-Class debut in 2017 and last played in 2019.
Satyan Gajwani of Times internet is likely to assume the role of vice-chairman. He has close ties to the Times Group through his family, being married into the household of Samir Jain, the managing director of Bennett, Coleman and Co. Ltd.
The consortium also features David Blitzer, founder of Bolt Ventures, and Viral Patel, CEO of Blackstone’s BXPE strategy. Blitzer is a prominent American investor with ownership stakes across major sports leagues including the NFL, MLB, NBA, NHL, and MLS. Meanwhile, Patel has been associated with Blackstone since around 2005, though limited public information is available about his background.
