Royal Challengers Bengaluru, one of the most-loved cricket teams in the Indian Premier League (IPL), has a new owner.
In a landmark transaction that values the IPL franchise at $1.78 billion, RCB was sold to a consortium led by the Aditya Birla Group, and include sports investor David Blitzer and private equity firm Blackstone.
The deal pushes Indian sport deeper into the orbit of private equity, institutional money, and cross-border franchise investing.
The transaction was confirmed on Tuesday, just days before the start of the IPL 2026 season, placing one of the league’s most followed teams under new ownership almost immediately.
RCB’s blockbuster sale
The headline value of $1.78 billion makes the RCB sale one of the largest sports franchise deals seen in India.
The buyer group is led by the Aditya Birla Group, with the Times of India Group, Bolt Ventures (David Blitzer’s family office), and Blackstone joining the consortium.
Blitzer is widely known for his stakes in several sports teams, including the Philadelphia 76ers and the New Jersey Devils.
His entry into the RCB deal gives the transaction an international ownership profile and marks a notable move by a major US sports investor into the IPL.
Blackstone joined the process in the final stage of negotiations and is understood to have committed between $200 million and $300 million for its stake.
With its scale and recently growing interest in the sports investment category, Blackstone’s participation is likely to draw attention.
Diageo’s exit closes a long chapter for the franchise.
The company had controlled RCB through its Indian unit, United Spirits, and had been weighing options for the asset for more than a year before agreeing to the sale.
Why the deal matters
The RCB transaction is significant beyond the league itself.
It comes at a time when global investors are showing greater interest in sports teams that offer strong brand equity and recurring revenue.
The IPL has become one of the most powerful sports leagues in the world and has started to attract more serious institutional capital.
The involvement of investors such as Blitzer and Blackstone suggests that top IPL teams are no longer being treated as sports properties, but also as scalable media businesses.
Blitzer’s role is especially notable because he is among the most active sports investors globally.
His participation in RCB is likely to be seen as a vote of confidence in the long-term value of IPL teams.
Blackstone’s presence adds another layer, as private equity firms typically look for businesses with predictable cash flows and long-term expansion potential.
Its involvement suggests that at least some investors now see IPL franchises as fitting that profile.
With the IPL 2026 season due to begin within days, RCB will enter the tournament under new ownership from the outset.
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