File Photo: Royal Challengers Bangaluru Captain Rajat Patidar with team players with the Trophy the during Final of The TATA IPL 2025 Cricket Match between Punjab Kings and Royal Challengers Bangaluru at Narendra Modi Stadium in Ahmedabad, Gujarat on Tuesday, May 03, 2025.
| Photo Credit:
VIJAY SONEJI
United Spirits Ltd (USL) has entered into definitive agreements for the sale of the 100 per cent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Ltd (“RCSPL”) to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s perpetual private equity strategy, BXPE for a total consideration of ₹16,660 crore in an all-cash transaction.
RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL). Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise.
This announcement concludes the strategic review of RCSPL that was initiated by USL, as announced on November 5, 2025. The transaction is subject to satisfactory completion of customary closing conditions and legal, regulatory and other approvals, including from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.
Commenting on the transaction, Praveen Someshwar, MD & CEO of USL, said, “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. We are excited for the future of RCB under the stewardship of the new owner.”
The acquiring consortium stated: “We are proud to become custodians of RCB and grateful to USL and Diageo for the franchise they have built. RCB’s championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fanbases in world sport make this an extraordinary opportunity. We are committed to taking RCB to new heights, on the pitch and beyond.”
As per a regulatory filing, in FY25, revenue from operations and net worth of RCSPL was ₹504 crore, contributing 1.9 per cent to USL’s standalone revenue from operations and net worth. RCSPL’s net worth stood at ₹321 crore as of March 31, 2025.
The acquiring consortium brings together four partners: Aditya Birla Group is one of India’s largest conglomerates, with operations spanning over 40 countries and a legacy of over 165 years.
The Times of India Group is a large media conglomerate, whose cricket ecosystem encompasses Cricbuzz, Willow TV, Major League Cricket, and the London Spirit.
Bolt Ventures is the private investment platform of David Blitzer, a sports investor, with ownership stakes across the EPL, NBA, NHL, NFL, MLB, MLS, and other leagues across five continents.
Blackstone is the world’s largest alternative asset manager, with $1.3 trillion in assets under management across global investment strategies.
Subject to fulfilment of terms and conditions as under the SPA, the completion of the proposed transaction is expected to occur within six months from today, subject to any extension agreed in accordance with the terms of the SPA.
Published on March 24, 2026
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