RCB Sells for Historic $1.78 Billion as Blitzer-Led Group Seizes IPL Momentum

Royal Chall Challengers Bengaluru, fresh off their first Indian Premier League men’s title and a second straight Women’s Premier League crown, have changed hands in a record-setting transaction worth $1.78 billion (£1.33 billion). The blockbuster sale, orchestrated by Blackstone executive David Blitzer, moves the star-stud franchise from British drinks giant Di to a newly formed consortium that includes powerhouse Indian conglomerate the Aditya to Times of India Group and global private equity titan Blackstone.

The price tag is almost double the $890 million that the Lucknow Super Giants paid for an expansion spot in 202 and underscores the meteoric rise in IPL franchise valuations. Industry analysts credit the surge to the league’s massive popularity in India, now the world’s most populous nation with 1.47 billion residents, and the growing global embrace of the fast-paced Twenty20 format.

Gareth Balch, chief executive of global sports marketing firm Two Circles, told The Athletic last month that cricket, powered by the T20 format, has become the fastest-growing major sport this century, with the IPL franchise values multiplying tenfold since the league began in 2008.

Blitzer, who already holds stakes across North American sports, including the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils, the NFL’s Washington Commanders, and MLB’s Cleveland Guardians, as well as Premier League club Crystal Pal, said in a statement that the opportunity to own RCB “stands out” in his global portfolio.

RCB, founded in 200, had long been among the most followed teams in the IPL, but had fallen short of a title until last year, when they lifted the men’s trophy after three previous final defeats. In February, their women’s side defended the Women’s Premier League title, making the franchise the first to hold both the men’s and women’s IPL trophies simultaneously.

The Blitzer-led purchase is not the only U.S money streaming into the IPL. Sources in India say that Arizona-based financier Kal Somani has assembled a group including Walmart heir Rob Walton, owner of the Denver Broncos, and Detroit Lions owner Sheila Ford Hamp to acquire the Rajasthan Royals from current investors Red Capital Partners, media scion Lachlan Murdoch and British-Indian businessman Manoj Badale for a reported $1.63 billion. If finalized, the deal would leave Manchester United and Tampa Bay B co-owner Avram Glazer without an IPL stake after multiple unsuccessful attempts.