New Delhi, Mar 24 (PTI) United Spirits Ltd (USL) on Tuesday announced the sale of IPL franchise Royal Challengers Bangalore (RCB) in a Rs 16,660 crore all-cash deal to a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone.
In a regulatory filing, USL said pursuant to the meeting of its Board of Directors, it has entered into definitive agreements for the sale of the 100 per cent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Ltd (RCSPL) to a consortium comprising Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone).
“The all-cash transaction is for a total consideration of Rs 16,660 crore,” USL, part of multinational alcoholic beverages company Diageo, added.
RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL), it added.
Commenting on the transaction, USL MD & CEO Praveen Someshwar, said this transaction marks an important milestone for the company “as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders.” RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL, he said, adding it has built a globally recognised brand and a passionate fan base.
“We are excited for the future of RCB under the stewardship of the new owner. As sports enter a new phase of growth in India and globally, we believe this is in the best interest of the franchise and our stakeholders,” said Someshwar.
The acquiring consortium stated, “RCB’s championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fanbases in world sport make this an extraordinary opportunity. We are committed to taking RCB to new heights, on the pitch and beyond.” The Acquiring Consortium includes Aditya Birla Group, The Times of India Group, Bolt Ventures (a private investment platform of David Blitzer, one of the most prominent sports investors in the world), and Blackstone, the world’s largest alternative asset manager.
In November last year, USL said it would conduct a strategic review of its investment in Royal Challengers Sports Private Limited (RCSPL), the entity that owns the IPL T20 team Royal Challengers Bengaluru.
RCSPL’s business comprises ownership of the “Royal Challengers Bengaluru (RCB)” franchise teams that participate in the Men’s Indian Premier League (IPL) and Women’s Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually.
RCB, the team which had India’s cricket star Virat Kohli, won its first Indian Premier League last year.
RCB was one of the founding teams of the IPL, which was founded in 2008 by its previous owner Vijay Mallya. It came into the fold of Diageo after it took over Mallya’s liquor business, United Spirits Ltd.
RCB, whose home ground is M. Chinnaswamy Stadium, won their first title in 2025 and finished as the runners-up on three occasions -2009, 2011, and 2016. PTI KRH RKL KRH MR
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