MC EXCLUSIVE Twist in race for Royal Challengers Bengaluru? Now, Birla-Blitzer consortium also evaluating a bid

If the Birla-Blitzer duo formally enter the race for RCB, the stage would be set for a fascinating three-way bidding tussle.

• Birla-Blitzer consortium may bid for Royal Challengers Bengaluru
• Three-way bidding likely for RCB with two other consortiums
• RCB's brand value tops IPL chart at $269 million

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In what could potentially be a big twist in the ongoing sale process of Royal Challengers Sports Private Limited ( RCSPL), the consortium of Aditya Birla Group and American sports investor David Blitzer, which was earlier eyeing peer Rajasthan Royals ( RR), is now also weighing a bid for the Bengaluru -based IPL franchise, multiple industry sources in the know told Moneycontrol.

RCSPL is a subsidiary of global liquor giant Diageo’s Indian arm, United Spirits. Its business comprises ownership of the Royal Challengers Bengaluru (RCB) franchise team, which participates in the men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted annually by the BCCI.

If the Birla-Blitzer duo formally enter the race for RCB, the stage would be set for a fascinating three-way bidding tussle.

As of now, the two other suitors in the final leg are a consortium led by Manipal Hospitals’ Dr Ranjan Pai, US private equity firm KKR and Singapore investment major Temasek and the combination of Swedish private equity firm EQT and Premji Invest, the investment office backed by Wipro founder Azim Premji.

Moneycontrol had first reported the submission of binding bids for RCB by the Pai-led consortium and the EQT-Premji consortium on March 16.

“The Birla-Blitzer consortium, which had thrown its hat in the ring for RR, is now also evaluating an entry into the parallel race for RCB. Binding bids for both IPL teams, RCB and RR, were submitted nearly simultaneously earlier this week, and it’s an immensely dynamic situation,” said one of the persons above.

Two other persons confirmed the above.

A fourth person warned that no final decision has been made by the Birla-Blitzer consortium yet, and plans may vary depending on the nature of deliberations.

According to a fifth person, if the alliance decides to proceed, the bid would be an “aggressive one.”

All five persons above spoke to Moneycontrol on the condition of anonymity.

An email query sent to Diageo, Aditya Birla Group and entities linked to David Blitzer remained unanswered at the time of publishing this article. Reminders have been sent, and this article will be updated as soon as we hear from the parties.

To be sure, the IPL strictly regulates ownership of teams to avoid a conflict of interest and ensure parity. It is not possible for the same individual or entity to directly own two different IPL teams in the same season.

On March 21, Moneycontrol broke the news that a consortium of investors led by US-based serial entrepreneur Kal Somani had emerged as the front-runner to pick a controlling stake in Rajasthan Royals.

Importantly, an earlier report by Moneycontrol from December had highlighted that the same set of suitors may evince interest in both RR and RCB.

Additionally, a Moneycontrol report of January 28 gave an indication of the valuation range for the mega sports deal.

“Though the sell-side asks for a 100 per cent stake in RCSPL, which is around $2bn, a few prospective suitors are keen to value the target between $1.5 bn and $1.7 bn. Further clarity will emerge on valuations post due diligence, during the binding bid stage, “ the report said.

The bidding process by suitors follows a strategic review of RCSPL (non-core to USL’s alcohol business) initiated in November and expected to conclude before March 31.

The 2026 IPL season is set to begin on March 28, with defending champions  RCB hosting Sunrisers Hyderabad (SRH) at the M. Chinnaswamy Stadium in Bengaluru.

Birla-Blitzer: The sports connect

When it comes to the Aditya Birla Group led by Chairman Kumar Mangalam Birla, the diversified conglomerate was an official partner for Team India at the Paris Olympics. Additionally, the group, which holds a minority stake in Virat Kohli-backed youth fashion brand Wrogn ( Universal Sportsbiz Pvt Ltd), bagged the exclusive rights earlier to operate and sell Reebok products in India.

Incidentally, Birla group scion Aryaman Birla played first-class cricket for Madhya Pradesh and was a part of Rajasthan Royals during IPL 2018.

Now Aryaman serves on the board of the Group’s apex body, Aditya Birla Management Corporation, as well as on the boards of several group firms, including Grasim Industries, Hindalco and Aditya Birla Fashion & Retail. He is also the founder of Aditya Birla New Age Hospitality and venture capital arm Aditya Birla Ventures.

A global sports and entertainment investor, David Blitzer is Co-Founder and Co-Managing General Partner of Harris Blitzer Sports & Entertainment (HBSE) and has more than a decade of expertise owning and operating professional sports teams, including the Philadelphia 76ers (NBA), New Jersey Devils (NHL), Cleveland Guardians (MLB), Crystal Palace (EPL), Real Salt Lake (MLS), and numerous international soccer clubs. Bolt Ventures is Blitzer’s single-family office focused on investing in the sports, media, and entertainment ecosystem.

As per the "IPL Valuation Study 2025" by Houlihan Lokey, the IPL business value has risen to $18.5 bn from $15.4 bn in 2023. On the other hand, the IPL brand value rose to $3.9 bn from $3.2 bn in 2023.

The study says that RCB maintained the top position on the brand value chart ( $269 mn), followed by Mumbai Indians ($242 mn), Chennai Super Kings ($235 mn) and Kolkata Knight Riders ( $227 mn).

IPL: More deals in the works?

Over and above RCB and RR, stake sales are brewing at two other IPL teams as well.

On December 18, 2025, Moneycontrol was the first to report that a part stake sale was brewing at Kolkata Knight Riders, with the Mehta group planning to unlock value.

The KKR franchise is owned by Knight Riders Sports Private Ltd, which was set up in 2008 as a joint venture between Bollywood superstar Shah Rukh Khan's Red Chillies Entertainment and actress Juhi Chawla and industrialist Jay Mehta-backed Mehta Group.

On March 11, Moneycontrol reported that Sanjiv Goenka-led RP-SG group has joined the bandwagon of Indian Premier League (IPL) franchise owners looking to monetise their cricket teams, with plans to sell a minority stake in Lucknow Super Giants (LSG).  Goenka is exploring a sale of up to 15 percent, the report added.