New Delhi, March 26 -- Defending champions Royal Challengers Bengaluru (RCB) will have a new owner after the franchise was acquired by a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures founded by sports investor David Blitzer, and American asset management firm Blackstone.

The consortium are buying RCB and it's women's team from United Spirits Limited in a transaction valued at approximately Rs.166.6 billion ($1.78 billion), in a deal that was announced on Tuesday, four days before the Bengaluru-based franchise start their IPL defense. It also made RCB as the most expensive franchise in IPL history.

Amid the buzz on RCB, speculation were rife whether the franchise will have its original name Royal Chall...