Fans are gearing up for another exciting season of the Indian Premier League (IPL). The 19th edition, which is going to start from March 28, will amass a huge buzz, especially after India’s euphoria of lifting the T20 World Cup 2026 crown. Despite some travel hurdles, players have started to prepare for the upcoming season. However, some owners are engaged in their own tussle. It is not a secret anymore that we are in for an ownership change for two franchises, the Rajasthan Royals (RR) and Royal Challengers Bengaluru (RCB).
RR attract bidders as valuation crosses INR 12,000 crore
While RCB’s ownership transfer has entered its final phase, Rajasthan Royals (RR) are not far behind in drawing serious interest. As per Indian Express, the Royals have already received binding bids from at least three parties, with the Aditya Birla Group emerging as the frontrunner.
What has changed over the past few weeks, though, is the intent. Initial conversations revolved around selling a majority stake, but the Royals are now open to a complete exit if the right valuation is met. That figure is hovering in the range of $1.1 to $1.35 billion, which roughly translates to INR 9,000–12,000 crore.
The current ownership structure is spread across multiple stakeholders. Manoj Badale’s Emerging Media IPL Ltd holds a 65 percent stake, with RedBird Capital Partners owning 15 percent and Lachlan Murdoch holding 13 percent. The remaining shares are split among individual investors. Any full sale would require alignment across this diverse group, which makes the process slightly more time-consuming.
Fascinatingly, the Raine Group, which has previously handled high-profile sports deals including Chelsea and Manchester United, is overseeing the sale. Among the interested parties, the Aditya Birla Group has teamed up with US-based investor David Blitzer to submit a strong bid. There is also interest from a leading Indian media house, while Capri Global and the Times of India Group remain in the mix after stepping away from the RCB race. Kal Somani, in partnership with Walmart heir Rob Walton, is another name that continues to hover around the deal.
- Kal Somani (with Rob Walton)
- Aditya Birla Group (with David Blitzer’s Bolt Ventures)
- Times of India Group
- Capri Global
Unlike RCB, where the March 31 deadline has created a sense of urgency, Rajasthan Royals are in no such hurry. A full sale is no longer off the table. Also, the valuation of around INR 12,000 crore seems pretty good for a franchise who hasn’t won anything since the inaugural season in 2008. They don’t have a women’s team in the WPL as well. RR’s sister franchises are Paarl Royals in SA20 and Barbados Royals (men and women) in the Caribbean Premier League. Also, Rajasthan don’t have a big face like RCB have Virat Kohli’s association. That also plays a major part in valuation.
Cricket
Like RCB, Rajasthan Royals now open to sell entire franchise reportedly at INR 12,000 crore
