CCI Clears ₹16,660 Crore Acquisition of Royal Challengers Bengaluru
The Competition Commission of India has approved the ₹16,660 crore acquisition of Royal Challengers Bengaluru by a consortium led by the Aditya Birla Group, Blackstone, Times Group and other investors.
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The Competition Commission of India (CCI) has approved the proposed 100% acquisition of Royal Challengers Sports Private Limited (RCSPL), the company that owns IPL and Women’s Premier League (WPL) champions Royal Challengers Bengaluru (RCB), in a major regulatory approval for the ₹16,660 crore ($1.78 billion) deal.
According to reports, the all-cash transaction, which was first announced by United Spirits Limited (USL) in March 2026, will transfer the ownership of the Bengaluru-based franchise from Diageo-controlled USL to a consortium of domestic and international investors.
The consortium buying the company includes several investment entities backed by the Aditya Birla Group, Blackstone, the Times Group, Bolt Ventures and Silicon Valley-based ICONIQ Group.
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Institutional Backing:
The Aditya Birla Group is participating through Big Banyan Holdings, while Blackstone is investing via Asia Investment Topco II Pte Ltd. The Times Group is part of the consortium through Times Internet Ltd and Times Cricket LLP, with Bolt Ventures representing the investment platform of global sports investor David Blitzer.
The acquisition reflects increasing interest from institutions in premium sports assets, with investors betting on the continued commercial growth of the Indian Premier League through media rights, sponsorships, advertising, merchandising and fan engagement opportunities.
The deal comes after one of the most successful periods in the history of the Royal Challengers Bengaluru. The franchise, which finished as runners-up in 2009, 2011 and 2016, won its maiden IPL title in 2025 and successfully defended the championship in the 2026 season.
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Strategic Exit:
Commenting on the acquisition, Sandeep Agarwal, Head of Group Corporate Finance, Aditya Birla Group, said, “The IPL is seen by the consortium as a long-term structural growth opportunity.
Investors continue to see value in the league’s long-term valuation, he said, driven by growth in sports consumption in India despite ongoing consolidation in the media and broadcasting sector.
The deal is part of United Spirits’ planned exit from non-core sports investments after a strategic review that started in late 2025.
Royal Challengers Bengaluru was one of the original franchises when the IPL was set up in 2008 and was owned by businessman Vijay Mallya before being taken over by United Spirits after liquor giant Diageo bought the business.
