Blackstone considers foraying into sports with its first-ever investment in IPL teams like RCB, Rajasthan Royals

Blackstone Inc., the world’s largest alternative asset management company, is considering a potential investment in the world’s most profitable professional cricket league through its fund for wealthy individuals, in what could be its first foray into sports investing. Bloomberg It was reported on Monday (local time).

The company plans to commit between $200 million and $300 million through its Blackstone Private Equity Strategies Fund for the Rajasthan Royals and last year’s champions Royal Challengers Bengaluru (RCB), one of the two Indian Premier League (IPL) teams currently up for sale.

The investment in RCB or Rajasthan Royals is expected to come from BXPE, the firm’s fund for wealthy individuals, and will allow Blackstone to hold the stake for a longer period than a typical withdrawal fund would allow, the report said, citing sources.

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Simultaneously, reports of more private equity managers looking to invest in sports franchises and leagues are now coming to the fore. These firms are attracted by high-value media rights deals as well as the limited availability of premium franchises. Recently, KKR & Co. acquired Arctos Partners, which holds stakes in teams such as the Buffalo Bills and Los Angeles Dodgers. Meanwhile, Carlyle Group Inc. Last year Oracle struck a deal with Red Bull Racing.

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Latest offers submitted for RCB, Rajasthan Royals bid to be submitted

The report suggests that final bids for RCB were submitted this week, with one coming from EQT AB and Wipro founder Azim Premji’s family office and the other from a consortium led by Manipal Hospitals billionaire Ranjan Pai. Buyers of Rajasthan Royals are still considering the sale of shares.

Previous franchise sales

The report said that unlike previous franchise sales handled by the Board of Control for Cricket in India (BCCI), where payments were allowed to be spread over ten years, the new buyers are expected to make all payments upfront. The latest share sales are estimated to value the two teams between $1.3 billion and $2 billion.

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IPL, the professional cricket league, is widely regarded as the most popular and lucrative competition, combining US-style marketing with the glamor of Bollywood. 10 teams compete for first place in the eight-week tournament every spring. Billions of dollars are tied to its operations. The team’s owners range from Billionaire Mukesh Ambani, India’s richest person, to Bollywood actor Shah Rukh Khan.

Owning a stake in an IPL franchise provides significant consumer visibility in one of the fastest-growing wealth markets globally, with approximately 917,000 millionaires and 188 billionaires, according to UBS Group AG.

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BXPE allocates about 30 percent of its capital to independent deals outside of its primary private equity funds, including investments in startups such as SpaceX, founded by Elon Musk.

NDTV recently reported that the Rajasthan Royals have turned down a buyout offer worth $1.7 billion (roughly) from the Columbia Pacific Capital Partners (CPCP) consortium ahead of the 2026 IPL. ₹16,000 crore).

CPCP is an investment banking and private equity firm operating in the US and Canada and has reportedly made an offer for the Rajasthan Royals. The consortium, led by co-founders Nisha Sachdeva and Debjeet Gupta, promised to complete the deal within a two-week period, citing an accelerated timeline.