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A consortium comprising Indian and overseas business entities has successfully bought full ownership of Royal Challengers Bengaluru franchise for an eye-watering sum of about USD 1.78 billion (INR 16,660 crore). The "all-cash" deal was announced by the United Spirits Limited (USL), the existing owner of the RCB teams in the IPL and WPL.
As per a media release issued by USL, its board has approved the sale of the franchise to a consortium comprising Aditya Birla Group, the Times of India Group, Bolt Ventures and Blackstone's perpetual private equity strategy, BXPE. After this deal, USL said, both RCB teams, which were being run by its subsidiary Royal Challengers Sports Private Limited, will now be "owned and operated" by the consortium.
London-based spirits maker Diageo is on the verge of a financial windfall — not from a new blockbuster tequila or a surge in premium scotch sales, but from a championship-winning Indian cricket team.
The Indian Premier League’s Royal Challengers Bengaluru was sold Tuesday to Aditya Birla Group, Blackstone, The Times of India Group, and Bolt Ventures for just under $US1.8 billion ($2.5 billion). Diageo could reap more than half of that.
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For more detailed information, explore updates concerning RCB sold for.
