BENGALURU, India — A massive $1.78 billion sale has been finalized for the defending Indian Premier League cricket champions, with Royal Challengers Bengaluru set to change hands to an international group of investors.
The purchasing group includes major players from both India and the United States: the Aditya Birla Group, The Times of India Group, sports investment company Bolt Ventures led by David Blitzer, and American investment giant Blackstone.
This consortium will acquire both the men’s cricket team and the franchise’s Women’s Premier League squad from current owner United Spirits Limited.
Tuesday’s announcement comes just four days ahead of RCB’s first match as they attempt to repeat as IPL champions.
The transaction still requires final authorization from the Board of Control for Cricket in India along with other governing bodies.
As one of the IPL’s founding eight franchises, Royal Challengers Bengaluru features Indian cricket superstar Virat Kohli on its current roster.
