India, March 24 -- Royal Challengers Bengaluru have officially changed hands, with a strong consortium acquiring the franchise. The group includes the Aditya Birla Group, US-based sports investor David Blitzer, private equity giant Blackstone, and the Times of India. The deal marks a significant moment in the IPL, as RCB continues to grow in both commercial value and on-field success. The acquisition covers both the men's and women's teams.

A consortium of four groups has signed a definitive agreement with United Spirits Limited (USL), a subsidiary of UK-Diageo plc, to acquire a 100 per cent stake in the franchise.

Earlier developments indicated that the existing owners were seeking a valuation of around USD 2 billion. The Aditya Birla ...