The acquisition is subject to customary closing conditions, including approval from the Board of Control for Cricket in India (BCCI), the Competition Commission of India, and other applicable regulatory authorities.
“Under the new ownership structure, Aryaman Vikram Birla, director, Aditya Birla Group, will serve as chairman and Satyan Gajwani of the Times of India Group will serve as vice chairman of the franchise.”
Kumar Mangalam Birla, chairman, Aditya Birla Group, said in the release, “Over the past two 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.
He added, “We are delighted to become custodians of this asset and committed to further building this extraordinary legacy.”
Praveen Someshwar, managing director & CEO, USL, also said in the release, “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.”
Someshwar added that RCB has grown into one of the most prominent and commercially successful franchises in the IPL and WPL. Guided by its ‘Play Bold’ philosophy and a strong competitive spirit, it has built a globally recognised brand and a passionate fan base.
“We are excited for the future of RCB under the stewardship of the new owners. As sport enters a new phase of growth in India and globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support — the BCCI, the fans, players and employees,” he said.
Satyan Gajwani, chairman, Times Internet Limited, said in the release that RCB is the reigning champion and one of the most popular brands in the IPL.
“As the Times of India Group, together with our partners, we will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fan base. We are committed to the people who built this championship-winning culture — the players, coaches, the leadership team, and the fans. We look forward to supporting the team as they take the pitch on Saturday to defend RCB’s title,” Gajwani added.
David Blitzer, founder, Bolt Ventures, also said, “RCB has a world-class fan base, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out. We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success.”
Viral Patel, chief executive officer of BXPE, also said in the release, “We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth. Together with our partners, we look forward to supporting the franchise’s enduring legacy and continued success.”
Aryaman Vikram Birla, director, Aditya Birla Group, said: “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses. Together, we will continue to Play Bold — on the pitch, in the community, and for the fans who make RCB what it is.”
 "Royal Challengers Bengaluru")