Reportage
Inside the $1.78 billion deal no one saw coming
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
Diageo
Analysis
The $3.41 billion week that redrew the IPL
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
Reportage
Royal Challengers Bengaluru attracts $1.8 billion bid as nine parties compete
The State of Play can reveal the complete list of bidders for both franchises as RCB narrows the field and Rajasthan Royals move towards binding bids
Analysis
The $2 billion question: Why Diageo may sell RCB
As Diageo looks to cut costs and trim its portfolio, the RCB valuation shows that global consumer giants now see sport as an asset class rather than a marketing indulgence.