After Rajasthan Royals, RCB has now found new owners. In a record ₹16,706 Crore purchase, a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures, and private equity firm Blackstone have completed the purchase. The sale includes both men's and women's team, who are both reigning champions in IPL and WPL.
After Rajasthan Royals, RCB has now found new owners. In a record ₹16,706 Crore purchase, a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures, and private equity firm Blackstone have completed the purchase. The sale includes both men's and women's team, who are both reigning champions in IPL and WPL.
As per Cricbuzz, the purchase was completed for $1.78 billion. Under the revised ownership setup, Aryaman Vikram Birla of the Aditya Birla Group will take on the role of chairman, while Satyan Gajwani from The Times of India Group will serve as vice chairman. The consortium also includes David Blitzer, founder of Bolt Ventures, and Viral Patel, CEO of BXPE.
"Over the past two decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket, creating enormous value for India. 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 and committed to further building this extraordinary legacy," Kumar Mangalam Birla, Chairman, Aditya Birla Group, said in a statement.
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