A consortium led by Indian billionaire Kumar Mangalam's Aditya Birla Group, The Times of India Group, Blackstone, and David Blitzer's Bolt Ventures are set to buy Indian Premier League (IPL) side Royal Challengers Bengaluru (RCB), according to sources.
The IPL franchise is valued at around $1.8 billion. The RCB transaction, driven by Diageo-owned United Spirits' decision to conduct a ‘strategic review' of its ‘non-core' assets began in November 2025. Diageo had set March 16 as the final day for interested parties to submit binding bids to acquire the franchise.
The deal follows after the conclusion of the strategic review by United Spirits Ltd., which owns the franchise through Royal Challengers Sports Pvt.
ALSO READ | Rajasthan Royals Sold To Kal Somani-Backed Consortium For $1.63 Billion
This comes after another IPL franchise Rajasthan Royals (RR) were sold to Kal Somani-backed consortium for $1.63 billion, according to NDTV Profit. The consortium includes Rob Walton of Walmart. A formal announcement is likely to follow later this evening.
The deal has been signed, and is expected to be closed after the 2026 IPL season. The takeover will be completed after this year's tournament, the sources told NDTV Profit.
Somani is a US-based entrepreneur who has held a minority stake in Rajasthan Royals so far. He has now joined forces with Walton, who is the eldest son of Walmart founder Sam Walton and is among the richest individuals in the world.
Other groups that were reportedly interested in RCB's purchase were a Ranjan Pai-led Manipal Consortium (including Kohlberg Kravis Roberts and Temasek), and Swedish private equity firm EQT.
ALSO READ | Who Is Kal Somani? Entrepreneur Leading Rajasthan Royals' Record $1.63-Billion Takeover
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