The day has finally arrived for the parties to submit their bids to buy Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) as the two franchises are looking for a new buyer after their current owners decided to put up their respective teams up for sale.
RCB’s current owners Diageo has put up the team for sale. The owner of the Rajasthan franchise, Manoj Badale, is exploring a majority stake sale.
As reports suggest, 6 parties have shown interest in buying the defending champions Royal Challengers Bengaluru while four are in line to buy the Royals. The parties that are interested in buying RCB are EQT, Avram Glazer, Ranjan Pai and KKR, Adar Poonawalla, the Times of India Group, Premji Invest and Capri Global. As for RR, Aditya Birla Group along with Bolt Ventures, the Times of India Group, Capri Global, Avram Glazer and Kal Somani are in the running.
What the Reports Say?
There were reports earlier this February that KKR is interested to buy a huge share of stakes in RCB or RR. But KKR is not the Kolkata-based franchise but it refers to global private equity investment firm KKR and Blackstone who are a major player in the business world.
According to Reuters report, two banking sources had confirmed about KKR’s strong interest in acquiring one of RCB or RR.
Lalit Modi Back in IPL?
Former IPL commissioner Lalit Modi might return to IPL but in a different role. As mentioned above, RR are eyeing a majority stake sale, the bidders who have been shortlisted are– A consortium led by Aditya Birla Group and investor David Blitzer, a group led by Satyan Gajwani, a consortium involving Kal Somani and former IPL commissioner Lalit Modi and a group led by Adar Poonawalla.
Within just a few seasons after its launch in 2008, the IPL had become the most valuable commercial property in cricket and a model for T20 leagues around the world. However, during the third season, serious allegations of financial irregularities and regulatory breaches were raised against Lalit Modi, leading to his swift suspension by the Board of Control for Cricket in India.
He later moved to London and has since faced a series of legal and regulatory challenges related to alleged irregularities during his tenure in cricket administration. Despite being removed from the system, Lalit Modi has remained vocal, frequently offering sharp commentary on the business and governance of the game.
Covering sports for fun. Cricket in whites remains the first love—the kind that teaches patience, rewards nuance, and tells stories over five days rather than five seconds.
