IPL franchise Royal Challengers Bengaluru was acquired by Aditya Birla Group, The Times of India , Bolt Ventures and Blackstone’s perpetual private equity strategy. The deal is valued at USD 1.78 billion, approximately equivalent to 16,660 crore Indian rupees. It was announced by United Spirits limited, the current owner of RCB teams in IPL and WPL.

Now both RCB teams, earlier run by subsidary Royal Challengers Sports Private Limited will be owned and operated by consortium.

Also Read:- Ishan Kishan named stand in captain for Sunrises Hyderabad

Aryaman Vikram Birla will serve as chairman while Satyan Gajwani of Times of India Group will be the vice chairman. David Biltzer will act as Global Sports Partner while Viral Patel joins as Institutional Investor representing BXPE.

“It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports media and consumer businesses. Together, we will continue to Play Bold on the pitch, in the community, and for the fans who make RCB what it is,” Aryaman Birla New Chairman said.

“RCB is the reigning champion and the most popular brand in IPL. As the Times of India Group, together with our partners, we will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase. We are committed to the people who built this championship winning culture , the players , coaches , the leadership team and the fans. We look forward to supporting the team as they take the pitch on Saturday to defend RCB’s title,” Satyan Gajwani of Times of India Group chairman said.

“RCB has a world class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success,” David Biltzer who will act as Global Sports Partner said.

“We are excited to invest in RCB, building on Blackstone’s long standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise’s enduring legacy and continued success,” Viral Patel joins as Institutional Investor representing BXPE said.

“We are excited for the future of RCB under the stewardship of the new owners. As sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support – the BCCI , the fans , players and employees,” Praveen Someshwar , MD & CEO USL said.