Blackstone-Backed Consortium Acquires Indian Cricket Franchise

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Blackstone-Backed Consortium Acquires Indian Cricket Franchise

Photo by Dan Dennis on Unsplash

Blackstone (NYSE:BX) is the world’s largest alternative asset manager, with more than $1 trillion in AUM. The company serves institutional and individual investors by building strong businesses that deliver lasting value.

It was reported on March 24 that a Blackstone-backed consortium has agreed to acquire the Indian Premier League cricket franchise, Royal Challengers Bengaluru, in a deal worth $1.78 billion. The group has acquired a 100% interest in RCB following a weeks-long bidding ‌war, with the deal now subject to customary closing conditions, including approval from the Board of Control for Cricket in India and the Competition Commission of India.

The move is coming at an opportune time as RCB won its ​first men’s title in ​2025 after 17 years ⁠in the league. Moreover, the team features Virat Kohli, a modern cricketing legend, as its star batsman. The franchise posted a revenue of $56 million for ​2024-25, up 73% over a three-year period.

The consortium of buyers includes Aditya Birla Group, Times of India Group, and Bolt Ventures, along with Blackstone (NYSE:BX)’s perpetual private equity strategy, BXPE.

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