Reportage
A&W Capital is registered in London, runs out of Mumbai and is now expanding its reach to New York. Since 2021, it has been in the room for every major cricket deal. You have probably not heard of it. That, very much, is the point.
Reportage
For nearly four decades, cricket has chased a digital mirror worthy of its devotion. Time and again, it has come close, only to misplace the moment. Now, the ICC believes it has finally assembled the pieces. What waits beyond that belief is the hard part.
Reportage
Last month, word circulated that a consortium led by Kal Somani had secured the Rajasthan Royals for $1.63 billion. No party to the transaction has confirmed it. The lead bidder is still assembling capital, even as a rival consortium submitted a binding offer.
Reportage
Three weeks after Diageo sold Royal Challengers Bengaluru for $1.78 billion, the consortium that bought it is still raising the funds. The State of Play reveals how, and who is being asked to write the cheques.
Analysis
Nine weeks before kick-off, as the world readies itself for its grandest sporting ritual, India’s screens stay blank. Between what FIFA wants and what this market will pay, a fault line opens that runs deeper than football.
Reportage
How the Aditya Birla Group, David Blitzer’s Bolt Ventures, the Times of India Group, and Blackstone’s BXPE Fund swooped in to clinch Royal Challengers Bengaluru
Analysis
Two exits worth $3.41 billion have reset what an IPL franchise is worth, ushered in a new class of owners, and raised fresh questions about media rights and risk
Analysis
The bankers pitched 60-90% growth in the IPL’s next media rights cycle. The buyers modelled 20. The gap between those numbers is the story.
Reportage
EQT has spent nearly two decades buying IT companies and fertility clinics in India. Now it wants a cricket team. Royal Challengers Bengaluru, by most accounts, is where its money is going on March 16.
Reportage
Binding bids are due March 16. What serious bidders have found when they looked closely is considerably more complicated than either seller’s information memoranda suggested.
Reportage
Google has spent fifteen years embedding itself into cricket's ecosystem: as a platform, a sponsor, a rights-market observer, and now a kingmaker. The sport's two biggest auctions arrive in 2027. The groundwork is already laid.
Exclusives
The RCB and RR sales are now entangled, with overlapping bidders, shifting timelines, and each side watching to see what price the other commands. Meanwhile, the shortlists narrow and complications mount.
