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A consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures (David Blitzer) and a Blackstone fund has acquired Royal Challengers Bangalore, one of the most valued franchises in the Indian Premier League, for $1.8 billion, setting surging valuation benchmarks for T20 cricket franchises in India’s most watched cricket tournament.The Rajasthan Royals franchise scored a $1.6 billion valuation in a sale to entrepreneur Kal Somani, supported by Rob Walton of Walmart and the Hamp family of Ford, both of whom own franchises in the National Football League (NFL) in the US. This marks the entry of global sports franchise owners entering Indian cricket.The valuation for RCB is more than twice the benchmark set last year when Torrent Group acquired the Gujarat Titans at a $900 million valuation, pointing to a sharp increase in valuations driven by unmatched fan engagement and advertising pull.The acquirers of RCB will get the men’s team as well as the franchise’s team in the Women’s Premier League. For the selling party, United Spirits Limited (USL), a subsidiary of Diageo plc, the transaction represents an almost 16 times appreciation over the 2008 bid value.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.Rajasthan Royals, among the cheapest franchises at $67 million in 2008, has seen its valuation jump nearly 25x to $1.63 billion.In 2021, Manoj Badale’s Emerging Media raised its stake in Rajasthan Royals from 51% to 65%. That same year, US-based RedBird Capital Partners bought a 15% stake for $37.5 million, valuing the franchise at about $250 million. The latest deal marks a more than sixfold jump from that benchmark.In 2025, the IPL attracted one billion viewers across TV and digital which is an unmatched reach for one single market as NBA reaches 800 million to one billion viewers and the English Premier League 1.87 billion viewers globally.Both the acquisitions are subject to customary closing conditions, including approval from the Board of Control for Cricket in India, the IPL Governing Council, and other applicable regulatory authorities. BCCI will earn 5% of the transaction value in transfer fee.“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,” said Aryaman Vikram Birla, Director, Aditya Birla Group.The RCB bidding, which saw competitive bids from multiple consortia, saw the winning consortia outbid an offer from Serum Institute’s Adar Poonawala and Aditya Mittal of Arcelor Mittal. Premji Invest with PE firm EQT and another consortium comprising Manipal Group’s Ranjan Pai, KKR and Temasek also put in bids in the early rounds of the contest.The Times of India Group’s Satyan Gajwani said the consortium intended to build a global sporting institution rooted in Bengaluru and Karnataka. “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.”The Times of India Group is the publisher ofIn FY25, RCB recorded revenue of Rs 515 crore on a profit of Rs 140 crore. Royal Multisport, the owner of Rajasthan Royals, recorded a turnover of Rs 634 crore in FY25.David Blitzer, Founder, Bolt Ventures, said: “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.Experts say the deals underscore the IPL’s evolution from a sports league into a globally investable sports property, drawing interest from both leading domestic players and global capital.The surge in interest comes amid a broader boom in global sports valuations. Forbes reported that the world’s top 50 sports teams were collectively worth more than $353 billion in 2025, up 22% from a year earlier. The Dallas Cowboys topped the list at $13 billion, with even the lowest-ranked team valued at $5.4 billion.Industry executives say the IPL is evolving from a domestic corporate- and celebrity-led league into a magnet for global private equity and sports capital. Its owners include India’s richest man Mukesh Ambani (Mumbai Indians), film star Shah Rukh Khan (Kolkata Knight Riders), Sanjiv Goenka (Lucknow Super Giants) and media baron Kalanithi Maran (Sunrisers Hyderabad).Driving the surge is the Board of Control for Cricket in India’s $6.2 billion media rights deal signed in 2022, which has transformed franchise economics. Teams are now generating annual profits estimated between Rs 100 crore and Rs 200 crore.Scarcity, with just 10 teams, and cricket’s vast audience of more than a billion in India are also fuelling valuations.“IPL franchises are trophy assets now,” said a franchise CEO, speaking on condition of anonymity. “Everyone wants exposure to that growth, and media rights values still have room to rise.”In an earlier interaction, IPL Chairman Arun Dhumal said the league continues to attract new advertisers even as categories such as fantasy gaming recede. He expects competition for media rights to intensify in the next cycle.“The current broadcaster is seeing strong monetisation, but we expect new bidders going forward,” he said. “Franchise valuations will track that growth. The IPL brand remains resilient.”In FY25, the BCCI generated Rs 12,005 crore in revenue from the IPL, including media rights, franchise fees and sponsorship, compared with Rs 11,801 crore in the previous year.The profits generated by IPL teams, driven by rising media rights and sponsorship income, have enabled franchises to reinvest in global cricket leagues such as The Hundred, SA20, Major League Cricket in the US, the International League T20 and the Women’s Premier League in India.