Aditya Birla Group, Times of India Group-led consortium acquire RCB for USD 1.78 billion

Aditya Birla Group (ABG), The Times of India Group (ToI), Bolt Ventures (Bolt), and Blackstone's perpetual private equity strategy (BXPE, Blackstone) have jointly bought the Royal Challengers Bengaluru (RCB). The transaction is valued at USD 1.78 billion, approximately INR 16,706 crore.

Cricbuzz can confirm that a consortium of the four above-mentioned groups have signed a definitive agreement with United Spirits Limited (USL), a subsidiary of UK-Diageo plc to acquire 100 percent stake of RCB. The acquisition involves both men's and women's teams at the IPL and WPL.

Under the new ownership structure, Aryaman Vikram Birla, Director, Aditya Birla Group, will serve as Chairman and Satyan Gajwani of The Times of India Group will serve as Vice Chairman of the franchise. Other individuals involved in the consortium are David Blitzer, the founder of Bolt Ventures, and Viral Patel, CEO of BXPE.

The takeover, understandably, is subject to customary closing conditions, including approval from the Board of Control for Cricket in India (BCCI) - the regulators of the IPL and WPL - besides the Competition Commission of India, and other applicable regulatory authorities.

"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," Kumar Mangalam Birla, Chairman, Aditya Birla Group, said in a statement.

Satyan Gajwani, the chairman, Times Internet Limited added: "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."

Blitzer said the consortium would strive to build on RCB's success. "RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise's championship success," he remarked.

"We are excited to invest in RCB, building on Blackstone's long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise's enduring legacy and continued success," Patel commented.

Aryaman Birla, the new chairman, thought it a privilege to preside over the growth of the franchise. "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."

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