Big news is coming out regarding the franchise of Royal Challengers Bangalore (RCB). This popular franchise of the Indian Premier League is now on the verge of being sold and its bid is expected to reach 2 billion dollars (about Rs 16 thousand crores). According to the reports of The Indian Express, now only two big contenders are left in this race and this deal can be finalized soon.
Two great contenders face to face
On one side of this race is Sweden’s private equity company EQT, which has bid up to $2 billion. On the other hand, there is a big consortium, which includes Ranjan Pai, Kohlberg Kravis Roberts & Co and Temasek. Now a direct competition is being seen between these two and the final decision can be taken soon.
Many big names were out
Initially many big names were involved in this deal, but now some big names have backed out. The Glazer family, which is the owner of Manchester United, has also distanced itself from this race. Apart from this, Adar Poonawala has also decided to withdraw after showing interest in this team. With this the competition has now become more direct and exciting.
Decision may be taken by March 31
RCB’s current owner Diageo has set a deadline of March 31 to finalize this deal. In such a situation, the coming few days are considered very important. Market experts believe that this could be one of the biggest deals in IPL history.
Keep an eye on Rajasthan Royals also
Not only RCB, there is a big stir regarding Rajasthan Royals also. According to reports, many companies have shown interest in buying stake in the franchise. Here Aditya Birla Group is considered to be at the forefront. Apart from this, American investor David Blitzer is also involved in this race. There are reports of bids ranging from 1.1 to 1.35 billion dollars for Rajasthan Royals.
IPL’s increasing brand value
One thing is clear from all these deals that the brand value of IPL league is continuously increasing. Investors from all over the world are now ready to invest money in IPL teams, due to which this league is becoming stronger in terms of sports as well as business. Now everyone’s eyes are on who becomes the new owner of RCB.
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