A consortium comprising Blackstone (NYSE:BX), Bolt Ventures, Aditya Birla Group, and The Times of India Group agreed to acquire the Royal Challengers Bengaluru (RCB) cricket franchise.
This acquisition, valued at approximately $1.78 billion, includes both the men’s Indian Premier League and the women’s Premier League teams, Blackstone reports.
The acquisition is pending customary approvals, including those from the Cricket Board of Control for Cricket in India and the Competition Commission of India. The acquisition marks a significant shift in ownership from United Spirits Limited, a subsidiary of Diageo plc, to the new consortium.
Under the new leadership, Aryaman Vikram Birla will assume the role of chairman, while Satyan Gajwani from The Times of India Group will serve as vice chairman.
The new owners aim to build upon the franchise’s legacy …
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