A major deal has been struck in the world of cricket as a consortium led by Aditya Birla Group and The Times of India Group, along with Bolt Ventures and a Blackstone fund, has acquired Royal Challengers Bangalore (RCB) for a staggering $1.8 billion. This acquisition sets new benchmarks for T20 cricket franchises in the Indian Premier League (IPL), signaling the growing interest and surging valuations in the sport.
The Rajasthan Royals franchise also made headlines with a $1.6 billion valuation in a sale to entrepreneur Kal Somani, with support from Rob Walton of Walmart and the Hamp family of Ford, marking the entry of global sports franchise owners into Indian cricket. RCB's valuation has more than doubled compared to last year, emphasizing the significant increase in valuations driven by unparalleled fan engagement and advertising appeal.
The new owners of RCB will take over both the men's team and the franchise's team in the Women's Premier League. This acquisition represents an almost 16 times appreciation over the 2008 bid value for the selling party, United Spirits Limited (USL), a subsidiary of Diageo plc. Under the new ownership structure, Aryaman Vikram Birla, director of Aditya Birla Group, will assume the role of Chairman, while Satyan Gajwani of The Times of India Group will serve as vice chairman of the franchise.
Meanwhile, Rajasthan Royals, which was among the cheapest franchises at $67 million in 2008, has seen its valuation soar nearly 25 times to $1.63 billion. The IPL's growing popularity was evident in 2025, as it attracted one billion viewers across TV and digital platforms, surpassing other global sporting events. Both acquisitions are subject to customary closing conditions, including approval from the Board of Control for Cricket in India, the IPL Governing Council, and other relevant regulatory authorities. The BCCI will earn 5% of the transaction value in transfer fees. The consortium expressed its commitment to shaping the next phase of growth for RCB, aiming to build a global sporting institution rooted in Bengaluru and Karnataka.
The Times of India Group's Satyan Gajwani emphasized their dedication to building RCB into a global sporting institution while remaining connected to its fanbase. In FY25, RCB recorded revenue of Rs 515 crore with a profit of Rs 140 crore, while Royal Multisport, the owner of Rajasthan Royals, achieved a turnover of Rs 634 crore in the same fiscal year. David Blitzer, Founder of Bolt Ventures, highlighted RCB's world-class fanbase and the IPL's potential for growth as key reasons for their investment. The recent deals reflect the IPL's transformation into a globally attractive sports property, drawing interest from both domestic and international investors. The surge in interest is part of a broader boom in global sports valuations, with the IPL playing a pivotal role in this evolution.
The BCCI's $6.2 billion media rights deal signed in 2022 has significantly impacted franchise economics, with teams now generating annual profits estimated between Rs 100 crore and Rs 200 crore. The IPL's scarcity, with only 10 teams, and its massive audience of over a billion in India, are contributing to the soaring valuations. Franchise valuations are expected to rise further as competition for media rights intensifies in the next cycle. The IPL's brand resilience and the potential for new bidders in future media rights auctions have set the stage for continued growth and development. The profits generated by IPL teams have also enabled them to reinvest in global cricket leagues, showcasing the league's expanding reach and impact on the world stage.
