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United Spirits tweaks investor consortium in $2 Billion RCB stake sale | Business

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United Spirits Ltd., the Indian subsidiary of global liquor major Diageo, has revised the composition of the investor consortium involved in acquiring a stake in the company that owns the Royal Challengers Bengaluru (RCB) franchise in IPL. Importantly, while the structure of the buying group has changed, the financial terms and overall economics of the high-value transaction remain unchanged.

 


Amended agreement without change in deal value

 

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In a filing to the stock exchanges on Monday, the company confirmed that it has executed an “amended and restated share purchase agreement” related to the sale of shares in Royal Challengers Sports Private Ltd. (RCSPL), the entity that owns the IPL franchise.

 
 


The update reflects modifications in the legal entities participating on the buyer side, but the core consortium, valuation, and commercial structure of the deal remain intact. The transaction, originally announced in March, is valued at ₹16,660 crore (approximately $2 billion), making it one of the largest franchise-related deals in Indian sports history.

 

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United Spirits also confirmed that the agreement continues to involve the sale of 14,690 equity shares in RCSPL. 

 


Changes in investor group composition

 

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As part of the revised structure, several new entities have been added to the consortium, including Big Banyan Holdings Pte. Ltd., Times Cricket LLP, and ICONIQ Opportunities RC Holdco Ltd.

 


At the same time, two participants, Aelius Investments Pte. Ltd. and Metropolitan Media Company Ltd. have exited the group.

 

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The company clarified that these changes represent a restructuring of legal entities involved in executing the transaction, rather than any shift in intent or overall deal strategy.

 


RCB’s rising value in global sports market

 

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Royal Challengers Bengaluru continues to be one of the most commercially prominent franchises in the Indian Premier League. Its growing valuation reflects the broader surge in media rights, sponsorship interest, and investor appetite for cricket-related assets.

 


The IPL, in particular, has seen increasing participation from institutional investors, technology firms, and private equity groups seeking exposure to India’s rapidly expanding sports economy.

 

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United Spirits emphasized that all key commercial terms of the agreement remain unchanged from the original announcement made in March. The company also clarified that the transaction does not fall under the category of a related-party deal under Indian regulatory norms.

 

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Sports

Ronda Rousey returned to WWE for one thing; it didn’t even happen

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Ronda Rousey worked with WWE from 2017 to 2019, and then again from 2022 to 2023. She made quite the impact during her two runs with the company.

In 2019, WWE had the first-ever main event with female superstars. Rousey vs. Charlotte Flair vs. Becky Lynch at WrestleMania 35 in a Winner Takes All match. Both the then-RAW Women’s Championship and then-SmackDown Women’s Championship were on the line at the match. Lynch won that match to become Becky Two Belts, and Rousey disappeared from WWE TV.

While speaking to Zack Heydorn of SI’s The Takedown, Rousey revealed that before taking time off for her pregnancy, Rousey had pitched a singles feud against Becky Lynch to WWE, which Vince McMahon absolutely loved.

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“After WrestleMania, I literally printed out a whole presentation for them, for me and Becky — the singles match,” Rousey said. “How we would do it, how we would plan it out and rehearse these things and have them woven throughout the show. To do something really exceptional and new, and then Vince and them were like, ‘oh yeah, this is a great idea, this is great.’ Then I went and had my baby, I came back, and they were like, well, we talked about that a year ago”, said Ronda Rousey.

However, when she returned in 2022, it never came to fruition. She feuded with Charlotte Flair in 2022, but not with Becky Lynch, even though it was teased.

“They said, ‘We love this plan, it’s an epic showdown with you and Becky that’s going to build all year.’ I wanted to make basically a final showdown of me and Becky woven throughout the entirety of the show. It would summarize the entire rivalry for anyone watching it for the first time. Someone could watch it and not need to watch everything that came beforehand. It would sum it up and then deliver the ending. I thought it was fucking incredible and it was why I came back,” she added. [H/t: The Takedown]


Ronda Rousey opened up about working with Vince McMahon

During an interview with Complex, Ronda Rousey opened up about working with WWE’s former CEO. She claimed that things had taken a poor turn, given the internal turmoil within WWE.

The environment lacked concrete plans, and more often than not, talents were under stress about how the shows would proceed.

She showered praise on Triple H taking over, revealing that she was Team Triple H already. Unfortunately, she never got to experience it.

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Ronda Rousey is returning to MMA on May 16 to take on Gina Carano during Most Valuable Promotion’s debut on Netflix.