Royal Challengers Bengaluru (RCB) has a new owner. A four-member consortium led by Aditya Birla Group and The Times of India Group, along with Bolt Ventures and Blackstone, signed a definitive agreement on March 24, 2026, to acquire 100% stake in RCB from United Spirits Limited (USL), a subsidiary of Diageo plc.
The deal is valued at USD 1.78 billion (approximately INR 16,700 crore) and covers both the IPL and Women’s Premier League (WPL) franchises. It is the most expensive franchise sale in cricket history.
Who Are the New Owners of RCB?
Four groups came together to put this consortium deal in place. Each one brings something different to the table.
| Consortium Member | Who They Are | Key Person |
|---|---|---|
| Aditya Birla Group (ABG) | One of India’s largest conglomerates with businesses across telecom, cement, fashion, and financial services. | Kumar Mangalam Birla (Chairman) |
| The Times of India Group | India’s biggest media and digital company, giving RCB an enormous content and distribution platform. | Satyan Gajwani (Chairman, Times Internet) |
| Bolt Ventures | A US-based sports investment firm co-owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. | David Blitzer (Founder) |
| Blackstone (BXPE) | The world’s largest private equity firm is participating through its perpetual private equity strategy. | Viral Patel (CEO, BXPE) |
This is Aditya Birla Group’s first major foray into sports ownership. For Blackstone, it is a continuation of their long-standing investment strategy in India.
David Blitzer is no stranger to sports deals. He co-owns two major North American sports franchises, which gives the consortium some solid global sports management experience.
New Leadership: Who Will Run RCB After the Deal?
The new ownership structure has been clearly defined. Here is who takes charge once the handover is complete.
- Chairman: Aryaman Vikram Birla, Director at Aditya Birla Group and former professional cricketer who played for Rajasthan Royals in the IPL.
- Vice Chairman: Satyan Gajwani, Chairman of Times Internet Limited.
- Consortium Members: David Blitzer (Bolt Ventures) and Viral Patel (Blackstone) are also part of the leadership group.
Aryaman Birla brings a unique combination of on-field experience and business acumen. Having played domestic cricket for Rajasthan and appeared for Rajasthan Royals, he arguably understands both sides of the boundary rope.
The official handover is expected after the 2026 IPL season, allowing the current management to oversee the team’s title defence.
The RCB Deal in Numbers: USD 1.78 Billion in Perspective
The USD 1.78 billion figure is significant. To understand just how much RCB’s value has grown, here is the franchise’s full financial journey.
| Year | Event | Value |
|---|---|---|
| 2008 | United Spirits acquires RCB at IPL inception | USD 111.6 million (~INR 485 crore) |
| 2016 | Diageo takes over United Spirits and with it, RCB | Part of a larger USL acquisition |
| 2023 | RCB management acquires WPL franchise | INR 901 crore |
| 2025 | RCB wins maiden IPL title, brand value surges | N/A |
| Feb 2026 | RCB women win second WPL title | N/A |
| Mar 2026 | Consortium acquires 100% stake in RCB | USD 1.78 billion (~INR 16,700 crore) |
For Diageo’s subsidiary United Spirits, this deal represents a nearly 16-fold return on the original 2008 investment of USD 111.6 million.
This sale also breaks the previous IPL record held by Rajasthan Royals, which was acquired by US entrepreneur Kal Somani for USD 1.63 billion.
To put this in a broader context, the Gujarat Titans were valued at around USD 900 million when Torrent Group acquired a majority stake just a year ago. In a short span, IPL franchise values have nearly doubled.
Why Did Diageo Sell RCB?
Diageo did not wake up one morning and decide to exit cricket. There were a few clear reasons behind the sale.
The June 4 Stampede Tragedy
On June 4, 2025, a stampede outside the M Chinnaswamy Stadium in Bengaluru resulted in the deaths of 11 fans after RCB’s IPL victory celebrations spilled onto the streets.
The incident put enormous pressure on Diageo to reconsider its involvement in cricket. As a global beverages company, they did not want a public tragedy of this scale associated with their brand.
Strategic Review and Sale Process
In November 2025, United Spirits Limited initiated a formal strategic review of its stake in Royal Challengers Sports Pvt Ltd, signalling a potential full exit.
Diageo’s original target was USD 2 billion. After a competitive bidding process involving several global investors, including Adar Poonawalla of Serum Institute of India, the final deal was sealed at USD 1.78 billion.
RCB Ownership History: From Vijay Mallya to Aditya Birla Group
RCB has had a colourful ownership history, to say the least. It started with one of India’s most controversial business figures and ends with some of its most respected names.
When the IPL launched in 2008, Vijay Mallya, through United Spirits, acquired the Bengaluru franchise for USD 111.6 million.
In 2016, following Mallya’s flight from India, Diageo had already acquired United Spirits, effectively transferring control of RCB as well.
Under Diageo, the team invested in infrastructure and brand building, but famously could not win the IPL title for years. RCB had three IPL final appearances (2009, 2011, 2016) before finally lifting the trophy in IPL 2025.
Now, the Aditya Birla Group-led consortium takes the baton. Quite literally at the peak of RCB’s on-field success.
Why Is RCB Valued at USD 1.78 Billion? The Brand Behind the Price Tag
You do not pay USD 1.78 billion for a cricket team just because they can bat and bowl. RCB’s price tag reflects the scale of what the franchise has built over 18 years.
A Fanbase Like No Other
Despite a long wait for silverware, RCB has consistently been among the most followed IPL teams on digital platforms. The franchise has a particularly strong base in Karnataka but resonates nationally.
Global investment bank Houlihan Lokey identified RCB as the foremost brand in the IPL ecosystem.
Virat Kohli and the Star Power Premium
Much of RCB’s commercial pull ties back to Virat Kohli, who has been with the franchise since 2008 and captained the side from 2013.
The roster has also included global greats like Chris Gayle, AB de Villiers, Shane Watson, Glenn Maxwell, and Faf du Plessis. Star power translates directly to sponsorships and viewership.
Title Wins Adding to Valuation
RCB’s maiden IPL title in 2025 came after years of near misses and significantly boosted brand value.
On top of that, the RCB women’s team won the WPL in 2024 and again in February 2026, making RCB the first and only franchise to simultaneously hold both the IPL and WPL titles.
What the RCB Sale Means for IPL Franchise Valuations
This deal is not just about RCB. It signals where the entire IPL is headed as a business.
In 2022, the BCCI signed a USD 6.2 billion media rights deal that transformed the financial dynamics of all ten franchises.
In 2025, the IPL attracted close to one billion viewers across television and digital platforms, placing it among the most-watched sporting events in the world.
The rapid escalation in valuations reflects a clear trend: IPL franchises are now premium global sports assets, drawing private equity, media groups, and international investors.
| IPL Franchise | Buyer | Deal Value | Year |
|---|---|---|---|
| Gujarat Titans | Torrent Group | ~USD 900 million | 2025 |
| Rajasthan Royals | Kal Somani-led consortium (backed by Rob Walton / Walmart family, Ford family) | ~USD 1.63 billion | 2026 |
| Royal Challengers Bengaluru | Aditya Birla Group-led consortium | USD 1.78 billion | 2026 |
The involvement of global names like Blackstone and David Blitzer’s Bolt Ventures in the RCB deal further confirms the IPL’s status as a world-class investment asset.
What Happens Next: Approvals, Timeline, and IPL 2026
The deal is signed, but it is not yet final. A few important steps remain before the Aditya Birla Group officially takes charge.
Regulatory Approvals Pending
The acquisition is subject to approvals from:
- Board of Control for Cricket in India (BCCI)
- IPL Governing Council
- Competition Commission of India (CCI)
- Other standard regulatory authorities
Handover After IPL 2026 Season
The current RCB management will continue to run the franchise through the 2026 IPL season. The formal handover to the new owners will happen after the season concludes.
Meanwhile, RCB opens the IPL 2026 title defence against Sunrisers Hyderabad (SRH) at the M Chinnaswamy Stadium in Bengaluru on March 28, 2026. Not a bad time to be taking over the reigning champions.
In Their Own Words: What the New Owners Said
Kumar Mangalam Birla, Chairman, Aditya Birla Group: The IPL is a global sporting powerhouse, and RCB offers the group a distinctive platform to build its legacy in global sport.
Satyan Gajwani, The Times of India Group: The group aims to build RCB into a global sporting institution while keeping it rooted in Bengaluru and Karnataka’s incredible fanbase.
Aryaman Vikram Birla, incoming Chairman: The partnership brings together deep expertise in sports, media, and consumer businesses, with a commitment to continue the Play Bold culture.
Viral Patel, Blackstone: RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fanbase, and multiple avenues for growth.
Also Read:
Aditya Birla Group and Times of India Group Acquire RCB for USD 1.78 Billion
The RCB sale to the Aditya Birla Group-led consortium is the biggest franchise transaction in cricket history. It marks the end of Diageo’s era and the start of a new chapter backed by industrial, media, and private equity muscle.
With BCCI and regulatory approvals still pending, the deal is not officially closed. But on the field, RCB has never been in a stronger position: defending IPL 2025 champions and WPL 2026 winners. The new owners are inheriting a champion. Now the pressure is on them to keep it that way.
