Valuations of Indian Premier League (IPL) franchises have surged to record levels, with Royal Challengers Bangalore (RCB) being acquired by a consortium led by the Aditya Birla Group, The Times of India Group, Bolt Ventures and a Blackstone-backed fund for about $1.78 billion (Rs 16,660 crores), making it one of the most expensive transactions in the history of T20 cricket.
Under the new ownership structure, Aryaman Vikram Birla will serve as chairman of the franchise, while Satyan Gajwani, Chairman, Times Internet Limited, will be the vice-chairman. The acquisition includes both the men’s IPL team and the franchise’s side in the Women’s Premier League. For seller United Spirits, a subsidiary of Diageo Plc, the deal represents nearly a 16-fold increase over the original purchase value in 2008.
The bidding process for RCB saw strong competition from several high-profile investors. The winning consortium outbid a rival offer from Serum Institute’s Adar Poonawalla and ArcelorMittal’s Aditya Mittal. Other bidders in the early rounds included Premji Invest along with private equity firm EQT, as well as a separate consortium comprising Manipal Group’s Ranjan Pai, KKR, and Temasek.
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said: “Over the past 2 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.”
Satyan Gajwani of The Times of India Group said the new owners aim to build RCB into a global sporting brand while keeping its roots in Bengaluru. He said the franchise’s strong fan base and championship-winning culture would remain central to its growth, adding that the consortium is committed to supporting the players, coaching staff, and management as the team prepares to defend its title.
Other deals
The deal comes soon after Rajasthan Royals was valued at around $1.6 billion in a separate transaction led by entrepreneur Kal Somani, backed by global investors including Walmart heir Rob Walton and members of the Ford family, highlighting growing international interest in IPL franchises.
Somani is the founder of IntraEdge, Academian, and Truyo.AI. He is backed by American businessman Rob Walton, of the Walmart family, and the Hamp family, who own majority stakes in National Football League (NFL) side Detroit Lions. Sheila Ford Hamp also has roots in the Ford family, who are co-owners of the Ford Motor Company.
The RCB acquisition marks a sharp jump from earlier benchmarks. Last year, the Gujarat Titans were valued at about $900 million when Torrent Group bought a majority stake, showing how franchise values have nearly doubled within a short period due to strong media revenues, sponsorship growth and unmatched fan engagement.
IPL valuations
The rapid rise in valuations reflects the IPL’s transformation into one of the most valuable sports leagues globally. In 2025, the tournament attracted close to one billion viewers across television and digital platforms, placing it among the most-watched sporting competitions in the world.
Industry executives say the league is increasingly drawing interest from global private equity firms and sports investors, supported by the Board of Control for Cricket in India’s $6.2 billion media rights deal signed in 2022, which significantly boosted franchise earnings. Teams are now estimated to generate annual profits of ₹100 crore to ₹200 crore, making them highly attractive assets.
Experts believe limited team supply, massive fan following and rising media revenues will continue to push franchise valuations higher, with IPL teams now being seen as premium global sports properties rather than just domestic cricket clubs.
