David Blitzer and Blackstone-backed group acquire RCB IPL franchise

Blackstone-Backed Consortium Acquires RCB Franchise

A consortium led by David Blitzer and Blackstone has acquired the Royal Challengers Bengaluru (RCB) IPL franchise in a deal worth $1.78 billion. This acquisition underscores investor interest in cricket leagues, with the IPL valued at $18.5 billion according to Houlihan Lokey.

RCB is recognized as one of the most valuable franchises due to its strong brand and passionate fan base. The deal was facilitated by United Spirits selling its stake as part of its strategic divestment strategy.

The consortium includes notable investors like the Aditya Birla Group and The Times of India Group, alongside Blitzer's Bolt Ventures and Blackstone's private equity strategies.