India, March 25 -- The clouds of speculation around the acquisition of Royal Challengers Bengaluru finally got cleared on Tuesday after a consortium led by Aditya Birla Group, Times of India, Bolt Ventures, and Blackstone BX.N announced their winning bid of a staggering $1.78 Billon for the franchise. The United Spirits, who belong to the UK-based Diageo DGE.L, sold its 100 per cent shares to the consortium.

There was no denying the fact that a bidding war would ensue for a highly popular side like the Royal Challengers Bengaluru. From private equity firms KKR and Blackstone to Indian tycoons Adar Poonawalla to the globally recognised Manchester United co-chairman Avram Glazer, multiple interests were lined up for the franchise.

Among t...