United Spirits Ltd. has sold the Royal Challengers Bangalore for approximately $1.8 billion, setting a new record in Indian Premier League history. This sale marks a significant milestone, with RCB’s valuation estimated at ₹18,776 crores (around $2 billion).
The previous record sales were the Gujarat Titans at about $900 million and the Rajasthan Royals at $1.63 billion. A consortium including the Aditya Birla Group and Blackstone played a crucial role in this landmark deal.
This transaction indicates a strategic shift for Diageo, as it focuses more on its beverage alcohol business. In addition to the sale, a substantial 540 crores has been allocated for the Women’s Premier League team, highlighting the growing investment in women’s cricket.
The buyers will pay a 5% commission to the BCCI, and the deal is expected to be finalized within six months, pending approvals from the Competition Commission of India and the BCCI.
Details remain unconfirmed regarding future revenue growth from media rights, which may slow down due to potential decreases in per-match revenue. Additionally, the impact of regulatory delays or integration issues on the excitement surrounding the sale is unclear.
