The Royal Challengers Bengaluru (RCB) franchise, from Twenty20 cricket's lucrative Indian Premier League, now has new owners.
A consortium comprising both Indian and overseas investors has bought the franchise – last season's IPL winners, seen as one of the league's most iconic teams, partly due to its collection of high-profile players over the years – for an eyewatering sum of $1.78 billion.
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The consortium includes global conglomerate Aditya Birla Group, the Times of India Group, Bolt Ventures (the family office of prominent sports investor David Blitzer), and the BXPE arm of asset management heavyweight Blackstone.
A deal to that effect was unveiled by United Spirits Limited, the existing owner of the RCB teams (in the IPL as well as in the Women's Premier League).
USL (owned by Diageo in India) had been running the teams through its Royal Challengers Sports Private Limited subsidiary.
Diageo had said last November that it was conducting a review of its investment in RCB (captained by Indian icon Virat Kohli), and that it was planning to close a sale of the Bengaluru franchise (which won the IPL for the first time last year) by March 31.
The franchise was bought by United Breweries Group – owned by Vijay Mallya – in time for the inaugural IPL in 2008, for the equivalent of $111.6 million.
This sale price, therefore, represents an enormous uptick in the franchise's value over the last 18 years. It is also more than has been paid for the Rajasthan Royals, with that organization having been sold to US entrepeneur and businessman Kal Somani for $1.63 billion in a deal unveiled yesterday.
The two franchises most recently added to the IPL – representing Lucknow and Ahmedabad – were only sold for $1.69 billion combined, in late 2021.
RCB's new owners have said that former IPL player Aryaman Birla will be the team chair, and Satyan Gajwani of the Times of India Group will be the new vice-chair.
The consortium said in a statement: "RCB's championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fanbases in world sport make this an extraordinary opportunity. We are committed to taking RCB to new heights, on the pitch and beyond."
Praveen Someshwar, USL's managing director and chief executive, added: "Guided by its 'Play Bold' philosophy and a strong competitive spirit, [RCB] has built a globally recognised brand and a passionate fan base. We are excited for the future of RCB under the stewardship of the new owner. As sport enters a new phase of growth in India and globally, we believe this is in the best interest of the franchise and our stakeholders."
The Royals deal, announced yesterday, sees the Somani-led consortium buy that IPL franchise from previous owner Manoj Badale, whose vehicle Emerging Media held a 65% stake in the operation, and a range of minor shareholders. That holding was bought initially for just $67 million.
Somani, who first invested in the Royals in 2021, is the founder of technological innovation companies such as IntraEdge, Truyo, Truyo.AI, and Academian.
In terms of his previous sporting involvement, meanwhile, he was an early investor in golf's innovative TGL property, which was founded by legends Tiger Woods and Rory McIlroy.
Indian cricket's BCCI governing body will need to ratify any sale, and will also take 5% of the total price.
The 2026 IPL season will run between March 28 and May 31.
Elsewhere in the IPL, digital financial services site Navi has entered into commercial deals with three teams – RCB, Sunrisers Hyderabad, and Chennai Super Kings.
The brand has signed up as the official payments partner of all three franchises.
Rajiv Naresh, managing director and chief executive at Navi, has said: "This tournament brings together millions of people across the country in a way few platforms can. Our partnerships this season are about showing up where the energy is at its highest and connecting Navi UPI with everyday payment moments at scale."
The deals will all see Navi's branding integrated across a range of team assets, as well as through all outfits' social media platforms.
