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A group of companies led by the Aditya Birla Group, together with The Times of India Group, Bolt Ventures (David Blitzer), and a Blackstone fund, has purchased the Royal Challengers Bangalore (RCB) franchise in the Indian Premier League (IPL) for $1.8 billion. This purchase is reported to be one of the highest valuations in T20 cricket by The Economic Times. The transaction shows a significant increase in the value of IPL franchises, with RCB’s price more than doubling the $900 million record set in 2023 when Torrent Group bought Gujarat Titans. It also shows that global investors are becoming more interested in Indian cricket. In a related deal, Rajasthan Royals were valued at about $1.6 billion in a stake sale with the support of international investors, including Rob Walton from Walmart and the Ford family, indicating a rise in foreign ownership in the IPL.
The value of RCB emphasizes the growing commercial power of the IPL, fueled by huge fan engagement, increased media rights revenue, and strong demand for sponsorships. For the seller, United Spirits Ltd (USL), which is part of Diageo Plc, this deal represents nearly a 16 times return on its initial investment from 2008. The group that bought RCB will control both the men's IPL team and the Women’s Premier League (WPL) team, enhancing its impact in various formats. With the new ownership, Aryaman Vikram Birla will be the Chairman, while Satyan Gajwani will be the Vice Chairman. The report highlights how the IPL has transformed from a national cricket league into a globally appealing sports asset, attracting attention from private equity firms, strategic investors, and international sports owners. This change has been supported by the $6.2 billion media rights agreement signed in 2022, which has greatly improved the financial aspects for franchises. Teams are now believed to earn yearly profits between ₹100 crore and ₹200 crore, aided by strong income sources and ongoing growth in their audience. In FY25, the Board of Control for Cricket in India (BCCI) earned ₹12,005 crore from the IPL, showing ongoing growth in media rights, sponsorship deals, and franchise fees.
The acquisition of RCB came after a very competitive bidding process that included many well-known investors. The group that won was able to offer more than bids from Adar Poonawalla of Serum Institute and Aditya Mittal of ArcelorMittal, among others. In the earlier stages, Premji Invest worked with EQT, along with a group that included Ranjan Pai, KKR, and Temasek. In relation to the purchase, Satyan Gajwani mentioned that the group wants to turn RCB into a worldwide sports brand while staying deeply connected to Bengaluru and Karnataka. The goal will be to enhance the franchise’s history, increase its number of fans, and achieve success on the field. Experts in the industry have pointed out in the report that IPL teams are more frequently seen as valuable “trophy assets” due to their limited number and strong growth opportunities. With just 10 teams in the league and over one billion cricket fans in India, the demand for owning a team continues to be higher than what is available. The rise in IPL values reflects wider global trends in sports funding. As stated by Forbes, the top 50 sports teams in the world had a total value of more than 53 billion dollars in 2025, and even the lowest-ranked teams are valued at billions.
Looking ahead, there is an expectation of more growth in team values as competition for media rights grows and new advertisers join the mix. IPL Chairman Arun Dhumal pointed out that current broadcasters are achieving strong earnings, and future bidding rounds will likely draw even more interest. With increasing income and ongoing fan support, the IPL maintains its status as one of the most valuable and strong sports leagues in the world.
