RCB SALE: Another billionaire in the race to buy Royal Challengers Bengaluru; Know here
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Royal Challengers Bengaluru (RCB)are the current defending champions of both the IPL and the WPL.
The current defending champions of the Women’s Premier League (WPL) and the Indian Premier League (IPL), Royal Challengers Bengaluru (RCB), are up for grabs, and many companies and billionaires have shown interest in buying them.
Foreign investors want to enter the IPL market since it is one of the most-watched and profitable leagues in the world, across all sports. Manchester United co-chairman Avram Glazer has already shown interest in bidding for both teams.
The estimated bid amount for each franchise is expected to be close to, or exceed, the combined value of the Lucknow and Ahmedabad IPL franchises that the BCCI sold in 2021 for a total of INR 12,715 crore.
Many Indian investors, including Adar Poonawalla and the Manipal Group, are also interested in buying the team, especially RCB, since they have a huge fanbase and are the current champions of both the women’s and men’s Indian T20 leagues.
Among these, a new name has surfaced who has shown interest and is about to bid over a billion dollars to get a team in the IPL.
David Blitzer eyes majority stake in RCB
According to multiple sources, US billionaire David Blitzer has entered the race to buy an IPL team, and he is eyeing a majority stake in RCB. He is expected to engage in a bidding war against major Indian tycoons and other global investors, including Avram Glazer.
Blitzer is the chairman of the private equity firm Blackstone’s Tactical Opportunities division and a managing partner of its global sports investments. Some sources report that the talks value RCB at around $1.8 billion. RCB and RR have declined to comment on the news, and Blitzer has also not made any public statement regarding the matter.
Blitzer already owns multiple teams across various global leagues. His sports portfolio includes stakes in the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Acquiring a major stake in an IPL franchise would further diversify his portfolio and could prove to be a strong investment, considering the significant annual revenues generated by the league.
Who are the current champions of the IPL and the WPL?
Royals Challengers Bengaluru are currently the defending champions of both the IPL and the WPL.
Who is David Blitzer?
David Blitzer is an American billionaire investor and sports team owner. He is a senior executive at the global investment firm Blackstone Inc.
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Kabaddi is old, but not older than my love for it. I am still a rookie, but kabaddi is one thing I have been following passionately since my childhood. I don't miss any matches of the league and I regularly follow domestic and international tournaments as well.