On March 24, 2026, the Indian Premier League witnessed its most expensive transaction ever. The RCB new owner is a high-powered consortium led by the Aditya Birla Group (ABG) and the Times of India (TOI) Group, alongside global partners Bolt Ventures (David Blitzer) and Blackstone (BXPE). The deal, valued at $1.78 billion (approx. ₹16,660–₹16,706 crore), covers 100% of both the men’s IPL and women’s WPL teams.
Over the past two decades, the IPL has morphed to become a global sporting powerhouse… RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport. We are delighted to become custodians of this asset.” – Kumar Mangalam Birla, Chairman of the Aditya Birla Group
Who are the New Owners? A Cricket-First Boardroom
Unlike previous corporate owners, the new board has deep cricketing roots.
Aryaman Vikram Birla (Chairman): A former professional cricketer who played for the Madhya Pradesh Ranji team and was once a member of the Rajasthan Royals squad. His unique perspective as a “player-turned-owner” is expected to change the high-pressure culture at RCB.
It is a privilege to come together in this partnership to shape the next phase of growth for RCB… Together, we will continue to Play Bold—on the pitch, in the community, and for the fans who make RCB what it is. – Aryaman Vikram Birla, Director at Aditya Birla Group and the incoming Chairman of RCB
Satyan Gajwani (Vice Chairman): The Vice Chairman of Times Internet, who brings immense digital media muscle to the franchise.
RCB is the reigning champion and the most popular brand in the IPL… we will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase. – Satyan Gajwani, of The Times of India Group and incoming Vice Chairman
Blackstone & Bolt Ventures: These partners bring experience from the NBA (76ers), NHL (Devils), and EPL (Crystal Palace), suggesting a move toward globalizing the RCB brand beyond Indian shores.
Also Read: Blackstone, David Blitzer bet big on Indian Premier League with $1.8B RCB buy
Key Takeaways on the Equity Structure Between RCB New Owners
Total Acquisition: The consortium acquired 14,690 equity shares, representing the full 100% stake in Royal Challengers Sports Private Limited (RCSPL) from United Spirits Limited.
The Blackstone Slice: Financial reports indicate that Blackstone joined in the final stages of the deal, committing between $200 million and $300 million for its portion of the equity.
The “Lead” Status: By appointing Aryaman Vikram Birla as Chairman, the Aditya Birla Group is positioned as the primary decision-maker and lead stakeholder in the consortium.
All-Cash Deal: The entire ₹16,660 crore transaction was executed as an all-cash deal, emphasizing the massive liquidity of the new ownership group.
Ownership History: From the 'King of Good Times' to Global Tech
The journey of the Bengaluru franchise is a reflection of the IPL’s own explosive growth.
2008 – 2015: Originally purchased by Vijay Mallya (United Breweries/United Spirits) for $111.6 million, making it the second-most expensive team at the time.
2015 – 2026: Following Mallya’s financial exit, control shifted to the global spirits giant Diageo via United Spirits Limited (USL). Under Diageo, RCB transformed into a commercial juggernaut, culminating in their maiden IPL title win in 2025.
2026 – Future: Diageo initiated a “strategic review” to divest from non-core assets, leading to the current sale to the Birla-led consortium.
The Market Reset: 2026 Ownership Comparison
| Franchise / Deal | Acquisition Value | Lead Ownership Group | Strategic Partners | Key Leadership |
|---|---|---|---|---|
| RC Bengaluru (RCB) | $1.78 Billion | Aditya Birla Group | TOI, Blackstone, Bolt | Aryaman Birla (Chair) |
| Rajasthan Royals (RR) | $1.63 Billion | Kal Somani (US Tech) | Rob Walton, Ford Family | Kal Somani (Lead) |
| Historical Context (2008 Acquisition Price) | ||||
| RCB (2008) | $111.6 Million | Vijay Mallya | United Spirits | Manoj Badale (RR '08) |
The Battle of the Billionaires: Who Were the Prospect Buyers?
The “strategic review” initiated by Diageo sparked a massive bidding war. Before the Birla-TOI consortium emerged victorious, several global giants were in the race:
Adar Poonawalla (Serum Institute): Confirmed on X that he would submit a “STRONG and COMPETITIVE” bid.
Lancer Capital (Glazer Family): The Manchester United owners were reportedly frontrunners but maxed out their bid at $1.8 billion, failing to match the all-cash speed and localized value of the Birla group.
Adani Group & JSW Group: Both Indian conglomerates were linked to the sale, though JSW would have had to exit their Delhi Capitals stake.
EQT Private Capital: The Swedish private equity firm launched a significant bid and was a finalist before the consortium was finalized.
How does the $1.78 billion RCB sale affect Virat Kohli's future with the franchise?
The RCB new owner has been vocal about maintaining continuity. Virat Kohli remains the undisputed face of the brand, and the new management intends to build a “Lifetime Association” with him. With Aryaman Birla’s professional background, the expectation is that Kohli will have more input in long-term squad building as he enters the final chapters of his playing career.
FAQ (Frequently Asked Questions)
Why did United Spirits (Diageo) sell RCB after a title win?
Why did a team as successful as Royal Challengers Bengaluru change owners?
Who are the investors in the Aditya Birla RCB consortium?
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