“In 2022, the broadcast rights for the 2023-27 cycle were bought for $6.4bn by Disney Star and Reliance Viacom18.”

“Blitzer already has ownership stakes in the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils and the Premier League’s Crystal Palace, among a slew of other teams.”

“The valuations for the two teams mark a huge jump from their original 2008 sales, when liquor baron Vijay Mallya bought RCB for $111.6m, and Rajasthan sold for $67m.”

“The MLC is run with the blessings of IPL’s franchises – Chennai Super Kings owns the Texas franchise, while Kolkata Knight Riders and Mumbai Indians own the Los Angeles and New York teams, respectively. The league is expected to grow to eight teams in 2027, with Arizona being a prime contender for one of the new franchises.”

“Cricket made a foray into the US market with the 2024 T20 World Cup — won by India — and the sport will return to US shores at the Los Angeles Olympics in 2028.”

“In 2021, the league was expanded from eight to 10 teams, and the two new franchises, Gujarat Titans and Lucknow Super Giants, sold for $670m and $940m, respectively.”

“For Rajasthan, Somani was an existing shareholder and moved to take full control of the franchise in a deal that still needs approval from the Board of Control for Cricket in India, Indian media reported.”

“Royal Challengers Bengaluru and Rajasthan Royals both sold within hours for two separate record-breaking deals.”

“Times Group, another of RCB’s new co-owners, is already heavily invested in the US cricket market. It owns Willow, which primarily broadcasts all major cricket matches — including the IPL — in the US.”

“United States investors are making a big move into Indian cricket, with two separate billion-dollar deals made on the same day for teams in the country’s most popular sports league.”

“No team in the Indian Premier League had ever sold for more than $1bn until a consortium backed by US businessmen Kal Somani and Rob Walton agreed on Tuesday to buy the Rajasthan Royals in a deal that Indian media valued at $1.63bn.”

“The London Spirit team of the British cricket league The Hundred was valued in 2025 at $370 million — the highest for any team in that tournament — when its partial stake was up for sale last year.”

“The 81-year-old Walton is the eldest son of Walmart founder Sam Walton and is an owner of the NFL’s Denver Broncos.”

“The 2025 title was RCB’s first, but the celebrations turned tragic when at least 11 people died in a deadly crowd crush at the team’s stadium.”

“Walmart, meanwhile, has key interests in India. It acquired a majority stake in e-commerce giant Flipkart in 2018, and also controls PhonePe, the leading digital payments platform, as well as other business interests.”

“That record only lasted hours, though, as an even bigger deal was announced the same day for reigning champion Royal Challengers Bengaluru. That team was bought for $1.78bn by another consortium that includes US billionaire David Blitzer’s Bolt Ventures and US asset manager Blackstone.”