In a significant development for cricket fans, Amrit Thomas has been appointed as the chairman of Royal Challengers Bengaluru (RCB) as of March 28, 2026. This change comes after the franchise was acquired for a record $1.78 billion by a consortium including the Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone.

The acquisition values RCB at approximately INR 166.6 billion, marking a remarkable increase from the INR 450 crores paid by former owner Vijay Mallya in 2008. Mallya’s tenure as owner was marred by financial scandals, leading to the eventual sale of the franchise.

RCB, which won its first IPL trophy in 2025, is now the defending champion heading into the 2026 season. Under the leadership of captain Rajat Patidar, the team aims to build on its recent success.

Vijay Mallya expressed his sentiments on the franchise’s journey, stating, “When I bought the franchise in 2008 for INR 450 crores, most people laughed at me and criticised my investment as a vanity project.” His comments reflect the transformation of RCB from a struggling team to a championship-winning franchise.

As the IPL 2026 season opener approaches, excitement is palpable in Bengaluru. Mallya remarked, “It’s a massive night here in Bengaluru with the IPL 2026 season opener at the Chinnaswamy.” His enthusiasm for the team’s achievements remains evident, despite the change in ownership.

In light of the recent acquisition, reactions from fans and analysts have been mixed, with many acknowledging the financial prowess of the new owners while also reflecting on Mallya’s legacy. One observer noted, “Buying RCB in 2008 was a brilliant idea. It was your brainchild. The sale in 2026 for an extraordinary price must have been bittersweet—but your vision and sportsmanship are truly admirable.”

The transition to new ownership marks a new chapter for RCB, with Thomas now at the helm. The franchise’s future will be closely watched as it navigates the challenges and opportunities ahead in the competitive landscape of the IPL.

Details remain unconfirmed regarding the strategic plans Thomas may implement to enhance the team’s performance and marketability. However, the acquisition signals a commitment to elevating RCB’s status in the cricketing world.

The post RCB Owner Name 2026: Amrit Thomas Takes Charge After Major Acquisition appeared first on newscri.

In a series of significant developments in the Indian corporate landscape, various companies have made headlines with their stake transactions. Notably, the government is considering an Offer for Sale (OFS) option for the stake sale of IDBI Bank, although specific timelines and details remain unconfirmed.

In another major move, Waaree Energies has approved a capital expenditure of Rs. 3,900 crores for the establishment of a glass manufacturing plant. This investment is part of Waaree Energies’ broader strategy to enhance its production capabilities and increase its market presence.

Additionally, Waaree Energies is set to increase its stake in Waaree Transpower Private Limited from 64.04% to 75.10%. This decision reflects the company’s commitment to consolidating its position within the renewable energy sector, as Waaree Transpower is pivotal to its operations.

On the other hand, United Spirits Limited has announced the sale of its entire 100% equity stake in Royal Challengers Sports Pvt Ltd. The total consideration for this transaction is INR 166.6 billion. This sale marks a significant shift in the ownership of one of India’s prominent sports franchises.

The acquiring consortium for Royal Challengers Sports Pvt Ltd includes notable entities such as the Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone. This diverse group of investors indicates a strong interest in the sports and entertainment sector, which continues to grow in India.

The transaction is subject to customary closing conditions and regulatory approvals, which are standard in such large-scale acquisitions. The strategic review of Royal Challengers Sports Pvt Ltd was initiated by United Spirits Limited on 5 November 2025, paving the way for this significant sale.

As these developments unfold, stakeholders across various sectors are closely monitoring the implications of these stake transactions. The evolving landscape of corporate ownership in India is indicative of broader trends in investment and market dynamics.

Details remain unconfirmed regarding the timeline for the IDBI Bank stake sale, but the ongoing changes in ownership stakes among major companies signal a transformative period in the Indian corporate sector.

The post Stake: Recent Developments in Transactions appeared first on newscri.

United Spirits Ltd. has sold the Royal Challengers Bangalore (RCB) franchise for approximately $1.8 billion, a transaction that marks a significant milestone in the history of the Indian Premier League (IPL). This sale values RCB at an estimated ₹18,776 crores (approximately $2 billion), setting a new benchmark in franchise valuations.

The previous highest sale values in IPL history were recorded for the Gujarat Titans at around $900 million and the Rajasthan Royals at $1.63 billion. The recent sale reflects the growing financial clout of IPL franchises and the increasing interest from investors.

A consortium that includes the Aditya Birla Group and Blackstone played a pivotal role in this landmark deal. As part of the agreement, the buyers will pay a 5% commission to the BCCI, further indicating the financial dynamics at play in the league.

In addition to the sale of RCB, ₹540 crores have been allocated for the establishment of a Women’s Premier League team, showcasing the IPL’s commitment to expanding its reach and inclusivity in cricket.

This sale is also indicative of a strategic shift for Diageo, as it moves towards focusing on its beverage alcohol business. The deal is expected to be finalized within six months, pending approvals from the Competition Commission of India and the BCCI.

However, details remain unconfirmed regarding how future revenue growth from media rights may be impacted, especially with potential decreases in per-match revenue. Additionally, the effect of any regulatory delays or integration issues on the excitement surrounding the sale remains unclear.

As the IPL continues to evolve, the sale of RCB stands as a testament to the league’s prominence in the global sports market and its ability to attract significant investments.

The post இந்தியன் பிரீமியர் லீக்: Indian Premier League: Royal Challengers Bangalore Sold for $1.8 Billion appeared first on newscri.

In a landmark development for Indian Premier League (IPL) cricket, the Aditya Birla Group, in collaboration with The Times of India Group, Bolt Ventures, and Blackstone, has acquired 100% of the Royal Challengers Bengaluru (RCB) franchise from United Spirits Ltd. The acquisition, announced on March 25, 2026, is valued at approximately US$1.78 billion (around ₹16,660 crore), making it the most expensive IPL franchise sold to date.

The acquisition is significant not only for its financial implications but also for the future leadership of RCB. Aryaman Vikram Birla has been appointed as the chairman of RCB, while Satyan Gajwani will serve as vice-chairman. The deal is subject to customary closing conditions, including approval from the Board of Control for Cricket in India (BCCI) and the IPL governing council, which are expected to be finalized in the coming weeks.

United Spirits had initiated a strategic review of its holding in RCB in November 2025, leading to this sale. The decision allows United Spirits to concentrate on its core beverage business while transferring the responsibilities of the cricket franchise to a consortium that has expressed pride in becoming custodians of RCB. They have committed to elevating the team to greater heights, indicating a strong vision for the future.

The acquisition includes full ownership of both the IPL and Women’s Premier League (WPL) teams, further expanding the consortium’s footprint in the cricketing landscape. This move comes at a time when the IPL’s total value is pegged at USD 18.5 billion, according to investment bank Houlihan Lokey, underscoring the lucrative nature of cricket in India.

Historically, United Spirits had submitted a winning bid of $111.6 million (approximately ₹485 crore) to acquire the franchise back in 2008. This recent acquisition marks a significant appreciation in the franchise’s value over the years, reflecting the growing commercial potential of cricket in India.

In response to the acquisition, Kumar Mangalam Birla stated, “RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.” Aryaman Vikram Birla added, “It is a privilege to come together in this partnership to shape the next phase of growth for RCB.” These statements highlight the consortium’s commitment to the franchise and its future.

David Blitzer, another key figure in the consortium, remarked, “RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport,” emphasizing the potential for growth and engagement with fans. Viral Patel from Blackstone expressed excitement about the investment, stating, “We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India.”

As the acquisition awaits formal approval from the BCCI and the Competition Commission of India, the cricketing community watches closely. Details remain unconfirmed regarding the timeline for these approvals, but the anticipation surrounding the future of RCB is palpable among fans and stakeholders alike.

The post Aditya Birla Group Acquires Royal Challengers Bengaluru appeared first on newscri.