The consortium of Aditya Birla Group, The Times of India Group, Bolt Venturesย and Blackstoneโs perpetual private equity strategy stepped in to become the joint owner of the Royal Challengers Bengaluru (RCB) in IPL. Together, they have agreed to acquire the franchise in a transaction pegged at USD 1.78 billion (approximately INR 16,706 crore). With that, RCB is set to become the most expensive T20 franchise in history.ย
Meanwhile, the deal covers both the menโs and womenโs teams competing in the IPL and WPL. Leadership roles within the new structure have already been outlined as Aryaman Vikram Birla is set to take over as chairman, while Satyan Gajwani, the chairman of Times Internet, will serve as vice chairman. David Blitzer and Viral Patel are also part of the investor group.
โOver 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.
However, the completion of the takeover remains dependent on regulatory approvals, including clearance from the BCCI and the Competition Commission of India, along with other required formalities.
Satwan Gajwani shares his views
“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,” Gajwani of Times Internet said.
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