Royal Challengers Bengaluru franchise now stands close to a major ownership change in IPL. Therefore reports indicate the deal may reach 2 billion dollars valuation. Moreover this amount equals nearly 16 thousand crore rupees in Indian currency.
Two Major Contenders Face Direct Battle
Currently only two strong contenders remain in the bidding race for RCB ownership. Therefore competition has intensified between both groups.
Firstly Sweden based private equity firm EQT placed a bid close to 2 billion dollars. Meanwhile a powerful consortium also entered the final race.
This consortium includes Ranjan Pai, Kohlberg Kravis Roberts and Company, and Temasek. Therefore both sides now compete directly for final ownership.
Big Names Exit the Competition
Earlier several major global names participated in this high profile deal process. However many strong contenders have now withdrawn from the race.
Firstly the Glazer family, owners of Manchester United, exited the bidding process. Additionally Adar Poonawalla also showed interest before stepping back.
Therefore the competition has now become more direct and intense between remaining bidders.
Final Decision Expected by March 31
Meanwhile current owner Diageo has set March 31 as the deadline for final decision. Therefore upcoming days hold crucial importance for this mega deal. Moreover market experts believe this deal may become one of the biggest in IPL history.
Rajasthan Royals Also Attract Investor Interest
Additionally Rajasthan Royals franchise has also drawn strong investor attention recently. Therefore multiple companies have shown interest in buying stake.
Currently Aditya Birla Group appears as a leading contender in this process. Meanwhile American investor David Blitzer also remains in the race.
Reports suggest Rajasthan Royals valuation may range between 1.1 and 1.35 billion dollars.
IPL Brand Value Continues to Rise
Clearly these developments show IPL brand value continues to grow rapidly worldwide. Therefore global investors now actively seek opportunities in IPL franchises. Moreover this trend strengthens IPL both as a sporting league and business ecosystem.
Finally attention now focuses on identifying the next owner of Royal Challengers Bengaluru.
