The business side of the IPL is making as many headlines as the cricket itself. Two major franchises — Royal Challengers Bengaluru and Rajasthan Royals are currently at the center of high-stakes ownership talks, with billions of dollars on the line.
RCB, one of the most popular teams of the league, is reportedly close to being sold for nearly USD 2 billion. The race to buy the franchise has now narrowed down to two main contenders. One is Swedish investment firm EQT, while the other is a powerful group that includes Ranjan Pai of Manipal Hospitals, US-based Kohlberg Kravis Roberts & Co, and Singapore’s Temasek.
Interestingly, some big names have dropped out of the race. The Glazer family, known for co-owning Manchester United, and Adar Poonawalla are no longer in contention. Reports suggest that while RCB’s current owners, United Spirits (owned by Diageo), are aiming for a $2 billion valuation, not all bidders may be willing to match that price. However, the earlier $1.8 billion bid from the Glazers hints that serious money is still in play.
The sale process is expected to wrap up within the next 45 to 90 days. Once finalised, the deal will need approval from the BCCI, which is a standard step for any ownership change in the IPL.
Meanwhile, there’s one more interesting development involving Rajasthan Royals. The Mittal family, led by Aditya Mittal, is reportedly exploring a bid for the franchise. Their interest comes as part of a larger push into global sports investments, especially after their recent involvement with the Boston Celtics.
The Royals, currently majority-owned by Emerging Media Ventures, could be valued at over $1 billion. Several groups have already submitted bids, including one linked to the Aditya Birla Group and investor David Blitzer. Whether the Mittal family enters independently or joins forces with others remains unclear.
All of this shows one thing clearly – IPL teams are no longer just sports franchises. They have become premium global assets, attracting some of the biggest investors in the world.
