American investors are making significant strides in Indian cricket, highlighted by two multi-billion dollar transactions occurring on the same day for teams in the nation’s premier sports league.
Record Sales in Indian Premier League
Previously, no team in the Indian Premier League, one of Asia’s most popular sports events, had ever been sold for over $1 billion. This changed when a consortium led by U.S. entrepreneurs Kal Somani and Rob Walton—former chairman of Walmart—agreed on Tuesday to purchase the Rajasthan Royals for $1.63 billion, according to Indian media reports.
A New Record Established
That record was short-lived, as an even more substantial purchase was announced the same day for the reigning champion Royal Challengers Bengaluru. This team was acquired for $1.78 billion by another consortium that includes U.S. billionaire David Blitzer’s Bolt Ventures and American asset management firm Blackstone.
The Growing Appeal of Indian Cricket
These transactions illustrate the rising interest in India’s national sport among international investors keen to engage with the most popular game in the world’s populous country.
“These are staggering figures,” remarked Indian cricket legend Sourav Ganguly to local reporters. “It’s great news for Indian cricket and shows the way forward. It’s comparable to the NBA in terms of growth.”
Investment Trends in Sports Teams
The valuation of these teams represents a remarkable increase from their original prices in 2008, when liquor magnate Vijay Mallya purchased RCB for $111.6 million and Rajasthan for $67 million. Analysts from Deloitte noted in a recent report that global investments in sports teams have surged as companies look to tap into expanding markets.
IPL’s Explosive Growth
The IPL, featuring the T20 format of cricket, has transformed into the sport’s most valuable asset. In 2022, the broadcasting rights for the 2023-27 seasons were sold for $6.4 billion to Disney Star and Reliance Viacom18. Disney subsequently exited the Indian market, leading to the formation of JioStar in 2025. Blitzer characterized the IPL as “one of the great growth stories in global sport.”
