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A consortium comprising Blackstone, serial American sports investor David Blitzer, among others, has acquired the Indian Premier League’s Royal Challengers Bengaluru franchise in a 166 billion rupees ($1.78 billion) deal.
The transaction underscores investor interest in the IPL, often dubbed as the world’s richest cricket league. A report by U.S. investment bank Houlihan Lokey last year valued the business at $18.5 billion and said the brand alone was worth $3.9 billion.
The IPL is a fast‑paced, franchise‑based cricket league launched in 2008 that blends top international and Indian talent. Played each year over nearly two months, it features 10 mostly city‑based teams, offering a mix of high‑intensity cricket, celebrity ownership, entertainment, and massive TV and streaming audiences.
On Tuesday, Diageo-
