United Spirits Limited (USL), the Indian arm of London-based Diageo, stated on Tuesday (March 24, 2026) that it had fully divested its stake in Royal Challengers Sports Pvt. Ltd. (RCSPL) to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and New York-based Blackstone’s private equity strategy, BXPE, in an all-cash deal worth $1.76 billion.

According to a regulatory filing made by USL, RCSPL owns and operates the Royal Challengers Bengaluru (RCB) franchises in the Indian Premier League (IPL) and Women’s Premier League (WPL).

Upon completion of this transaction, the consortium would, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL outfits. The RCB teams are the reigning champions in both IPL and WPL.

The women’s team won its second trophy early last month while the men’s team will begin its title defence this Saturday (March 28, 2026).

Speculation that RCB would be up for sale has been rife since the stampede outside the M. Chinnaswamy Stadium on June 4, 2025, that killed 11 people during the franchise’s title-winning celebrations. Tuesday’s announcement concludes the strategic review of RCSPL that was initiated by USL last November.

The transaction is subject to satisfactory completion of customary closing conditions and legal, regulatory and other approvals, including from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.

Praveen Someshwar, MD & CEO, USL, said: “RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. 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 owner. As sports enters a new phase of growth in India and globally, we believe this is in the best interest of the franchise and our stakeholders,” Someshwar added.

“We are proud to become custodians of RCB and grateful to USL and Diageo for the franchise they have built. RCB’s championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fan bases in world sport make this an extraordinary opportunity,” stated the acquiring consortium.

Days ahead of the opening of IPL 2026 season, the United Spirits Limited has announced that it has entered into agreements for the sale of the 100% equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited — which owns and operates Royal Challengers Bengaluru.

It has been sold to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s perpetual private equity strategy, BXPE for a total consideration of ₹ 166.6 billion.

“Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise,” said a release.