In one of the biggest franchise deals in cricket history, Royal Challengers Bengaluru (RCB) has been sold for approximately $1.78 billion (INR 16,660 crore) to a powerful consortium of Indian and global investors.

The all-cash deal was confirmed by United Spirits Limited (USL), the current owner of the franchise and a subsidiary of global beverage giant Diageo.

The sale follows a “strategic review” by Diageo, which had identified cricket as a non-core business and aimed to complete the transaction by the end of March 2026.

New ownership structure

The consortium acquiring RCB includes the Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone’s private equity arm. Under the agreement, both the men’s and women’s teams—previously operated by Royal Challengers Sports Private Limited—will now be fully owned and managed by the new group.

Former cricketer Aryaman Birla is set to serve as chairman, with Satyan Gajwani appointed as vice-chairman.

Record-breaking valuation

The $1.78 billion price tag highlights the surging commercial value of franchise cricket. The figure surpasses the combined valuation of the Lucknow and Ahmedabad IPL franchises sold in 2021 and marks a dramatic rise from RCB’s original purchase price of $111.6 million in 2008.

The franchise’s growth has been fueled by consistent on-field success and a massive global fanbase. Led by star player Virat Kohli, RCB’s men’s team secured its first-ever IPL title in 2025, while the women’s side, captained by Smriti Mandhana, are also reigning champions in the Women’s Premier League.

Strategic vision and global backing

The new ownership brings together a diverse mix of business and sporting expertise. Bolt Ventures is linked to prominent investor David Blitzer, who holds stakes in multiple global sports teams across leagues such as the NBA, NFL, and Premier League. Meanwhile, Blackstone—one of the world’s largest asset managers—adds significant financial muscle to the consortium.

In a joint statement, the new owners described RCB as “one of the most iconic franchises in world sport,” citing its championship-winning culture, deep connection to Bengaluru, and passionate fanbase.

“We are committed to taking RCB to new heights, both on and off the field,” the consortium said.

What happens next

The deal is still subject to regulatory approvals from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India before it is formally completed.

Industry analysts say the sale signals a new era for franchise cricket, with increasing global investment and cross-sport ownership models reshaping the business of the game. With fresh capital and international expertise, RCB is expected to expand its brand, talent pipeline, and commercial footprint in the coming years.