Aditya Birla Group Buys RCB for $1.78B in Epic IPL Auction

Aditya Birla Group, Times Group, Blitzer, Blackstone Join Purchase

Leading the consortium is the renowned Aditya Birla Group (ABG), headed by Kumar Mangalam Birla, in collaboration with The Times of India Group (ToI). They are joined by Bolt Ventures, led by American sports magnate David Blitzer, who holds significant stakes in the Philadelphia 76ers and Crystal Palace. Additionally, the international private equity powerhouse Blackstone is involved, operating through its Blackstone Private Equity Strategies.
Under the new leadership structure, Aryaman Vikram Birla, Director of the Aditya Birla Group and a former professional cricketer, will take on the role of Franchise Chairman. Satyan Gajwani, Chairman of Times Internet, has been appointed as Vice Chairman.

Kumar Birla Hails IPL's Global Impact

Kumar Mangalam Birla emphasized the transformative impact the IPL has had on Indian cricket, highlighting the significance of this acquisition.
He said, "Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India. RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport. We are delighted to become custodians of this asset and committed to further building this extraordinary legacy.”

Somani Group Bags Rajasthan Royals for $1.63B

In a busy day for the IPL, another consortium, founded by business magnate Kal Somani and backed by families linked to Walmart and Ford, reportedly won the Rajasthan Royals franchise for USD 1.63 billion (around Rs 15,342 crore).
This group includes Rob Walton from the Walmart family and members of the Hamp family, associated with Ford Motor Company. Somani, an Arizona-based tech entrepreneur, is known for his ventures like IntraEdge (providing technology services and solutions), Truyo.Ai (focusing on data privacy and AI governance), and Academian (offering edtech services).
The deal was finalized on Tuesday but awaits official approval from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.