BENGALURU, India (AP) — Royal Challengers Bengaluru, the current Indian Premier League cricket champion, has agreed to be bought by a conglomerate of investors from India and the United States in a deal valuing the franchise at nearly $1.8 billion. RCB’s new owners will be a consortium comprising Aditya Birla Group, The Times of India […]
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IPL champion Royal Challengers Bengaluru to be bought by consortium in deal worth nearly $1.8B
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BENGALURU, India (AP) — Royal Challengers Bengaluru, the current Indian Premier League cricket champion, has agreed to be bought by a conglomerate of investors from India and the United States in a deal valuing the franchise at nearly $1.8 billion.
RCB’s new owners will be a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures founded by sports investor David Blitzer, and American asset management firm Blackstone.
They’re buying RCB and the franchise’s Women’s Premier League team from United Spirits Limited in a transaction valued at approximately $1.78 billion.
The deal was announced Tuesday, four days before RCB begins the defense of its IPL title.
It is subject to approval from the Board of Control for Cricket in India and other regulatory authorities.
RCB is one of the original eight IPL teams and counts India star Virat Kohli among its current players.
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AP cricket: https://apnews.com/hub/cricket