A consortium of American sports investors, including Blackstone, David Blitzer, and United Spirits, has acquired the Indian Premier League's Royal Challengers Bengaluru franchise for 166 billion rupees ($1.78 billion) in an all-cash deal. The transaction underscores investor interest in the IPL, often known as the world's richest cricket league. A report by Houlihan Lokey last year valued the business at $18.5 billion and said the brand was worth $3.9 billion. The consortium also includes the Aditya Birla Group, The Times of India Group, and Blackstone's perpetual private equity strategy, BXPE.