Bidding Frenzy: Global Investors Eye IPL Franchises

Investor interest in IPL cricket teams is escalating, with David Blitzer and Avram Glazer leading the bids. Evaluations involve teams like Royal Challengers Bengaluru and Rajasthan Royals. Global entities compete, fueled by the league's rising valuation and team's increasing revenues. Final bids are due mid-March.

The Indian Premier League (IPL) is at the center of a growing bidding war as high-profile investors like David Blitzer and Avram Glazer show interest in acquiring stakes in two major teams: Royal Challengers Bengaluru and Rajasthan Royals. Sources confirm due diligence is underway as both franchises capture investor attention.

Valued at approximately $1.8 billion, Royal Challengers Bengaluru, last year's IPL champions, has seen bids from Glazer, co-owner of Manchester United, and Blitzer, co-founder of Harris Blitzer Sports & Entertainment. The allure is driven by burgeoning team revenues and a record league valuation estimated at $18.5 billion by Houlihan Lokey.

As the race heats up, other global firms, including KKR and Blackstone, evaluate potential investments. Blitzer's family office, BOLT Ventures, and Diageo's India unit undergo strategic reviews, weighing consortium formation with investors for securing majority shares. Final bids approach their mid-March deadline, increasing the anticipation around these high-stakes negotiations.