Rajasthan Royals Set To Become IPL's 1st Billion-Dollar Franchise; RCB Could Be Next
Rajasthan Royals are on track to cross the $1 billion valuation threshold, with four bidders submitting offers ranging from roughly $1.1 billion to $1.3 billion.
In the IPL, silverware still defines legacy, but money is increasingly shaping the conversation. The Rajasthan Royals (RR) now find themselves at the heart of that shift, with the Jaipur-based franchise closing in on becoming the first IPL team to be valued beyond the 1 billion dollar-mark (approximately Rs 9,215 crore). Recent seasons haven't delivered consistent success on the field, yet RR's business value has only climbed. The franchise is drawing strong interest from global investors, with multiple offers already sailing past the billion-dollar line-a clear sign of how rapidly the IPL's financial landscape is expanding.
According to sources familiar with the process, RR is on track to cross the $1 billion valuation threshold, with four bidders submitting offers ranging from roughly $1.1 billion to $1.3 billion. It's a remarkable figure for a team that has rarely featured among the league's flashiest brands, but it reflects the IPL's growing pull beyond on-field results. For context, the most expensive IPL franchise to date is the Lucknow Super Giants (LSG), which was bought by the RPSG Group for around Rs 7,090 crore.
The Royals are currently owned by Emerging Media Ventures in partnership with RedBird Capital Partners and Tiger Global. Among those bidding is American investor Kal Somani, who already holds a stake in the franchise. He is joined by major players such as Times Internet, Blackstone Inc., and Carlyle Group Inc., all eager to tap into the IPL's booming commercial ecosystem.
On the cricketing side, RR's story has been more volatile. Winners of the inaugural IPL in 2008, they have reached only one final since-in 2022-where they finished as runners-up to the Gujarat Titans. A gradual slide followed, leading to a significant reset after the 2025 season. Still, these on-field struggles have done little to cool investor interest.
The sale is being handled by the Raine Group, a firm with a strong track record in high-profile sports deals. Raine previously oversaw the sales of Chelsea FC in 2022 and Manchester United in 2024, underlining the scale and seriousness of the Royals' process.
And RR may just be the opening act. With the Royals attracting such heavyweight bids, the spotlight is now shifting to Royal Challengers Bengaluru (RCB). The defending IPL champions boast one of the league's strongest brands and a vast fan base; they, too, are exploring a potential ownership change.
Sources close to RCB indicate that bids could approach-or even exceed-the $2 billion mark. Diageo, the current owner, is understood to be encouraged by the Royals' numbers and has begun testing the market. Given RCB's massive popularity, expectations are that their valuation will comfortably surpass RR's.
Adding to the intrigue, Blackstone and Carlyle are reportedly considering bids for both Rajasthan Royals and Royal Challengers Bengaluru, highlighting how aggressively global investment firms are positioning themselves around the league.
If RR's sale sets a new benchmark, RCB's could push it even higher. Either way, the direction is clear: form may fluctuate, but IPL franchises are only getting more valuable-and the billion-dollar chapter is just beginning.
Rajasthan Royals
Royal Challengers Bengaluru