Many here may be aware that i follow cricket economics closely, but even fore the bidders names in ipl team sale were surprising, with the exception of cvc capitals ipl teams have been majority owned by indian investors.
Now us pe firms like kkr eqt tpg have bid for ipl teams, Blackstone is part of the consortium now owning RCB. Walmart and ford families are part of the consortium owning RR, why this sudden interest in owning a cricket teamin india?
Why Americans are pouring money into IPL
The twin IPL franchise sales on Tuesday commanded a combined $3.41 billion — nearly five times the $723.59 million paid by the league’s eight founding franchises in 2008.
The Manoj Badale-led Emerging Media consortium exited Rajasthan at a staggering 2,333% return, selling its stake for $1.63 billion — a dramatic leap from the original outlay of $67 million. Within hours came confirmation that Royal Challengers Bengaluru had also found new owners, commanding $1.78 billion.
Driving these soaring valuations is a clear common thread: American capital.
Rajasthan’s new ownership group includes US-based entrepreneur Kal Somani, Walmart heir Rob Walton — who also owns NFL franchise the Denver Broncos — and the Ham family, owners of the Detroit Lions.
RCB has been acquired by the Aditya Birla Group and the Times Group alongside US-based firms Bolt Ventures and Blackstone. Bolt Ventures is led by prominent sports investor David Blitzer, whose portfolio spans multiple leagues and continents — from the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils to the Premier League’s Crystal Palace and MLS side Real Salt Lake.
Over the past decade, American investors have increasingly turned to global sport, particularly European football and the English Premier League, as fertile investment ground. Now, that playbook is extending to cricket.
According to Simon Chadwick, professor of Afro-Eurasian Sport at Emlyon Business School, the surge in US interest in cricket is being driven by a mix of factors: the growing Indian diaspora in North America, cricket’s inclusion in the 2028 Los Angeles Olympics, and the sport’s expanding commercial footprint worldwide.
The Manoj Badale-led Emerging Media consortium exited Rajasthan at a staggering 2,333% return, selling its stake for $1.63 billion — a dramatic leap from the original outlay of $67 million. Within hours came confirmation that
Royal Challengers Bengaluru had also found new owners, commanding $1.78 billion.
Driving these soaring valuations is a clear common thread: American capital.
Rajasthan’s new ownership group includes US-based entrepreneur Kal Somani, Walmart heir Rob Walton — who also owns NFL franchise the Denver Broncos — and the Ham family, owners of the Detroit Lions.
RCB has been acquired by the Aditya Birla Group and the Times Group alongside US-based firms Bolt Ventures and Blackstone. Bolt Ventures is led by prominent sports investor David Blitzer, whose portfolio spans multiple leagues and continents — from the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils to the Premier League’s Crystal Palace and MLS side Real Salt Lake.
Over the past decade, American investors have increasingly turned to global sport, particularly European football and the English Premier League, as fertile investment ground. Now, that playbook is extending to cricket.
The American Playbook Comes to Cricket
US investors replicate their European football strategy in the IPL
$3.41B
Combined value of RCB + Rajasthan Royals deals — nearly 5× the $723M paid by all 8 founding franchises in 2008
The American Investors
Rob Walton
Rajasthan Royals
Walmart heir · Owns NFL's Denver Broncos
Ham Family
Rajasthan Royals
Owners of NFL's Detroit Lions
David Blitzer / Bolt Ventures
Royal Challengers Bengaluru
76ers (NBA) · Devils (NHL) · Crystal Palace (EPL) · Real Salt Lake (MLS)
Blackstone
Royal Challengers Bengaluru
US private equity giant · Global sports & media investor
Why IPL Is a Bargain Buy
$5.1B
Avg NFL franchise value
$3.9B
Avg NBA franchise value
$1.78B
RCB sale price (2025)
2,333%
Return on RR's original $67M investment
What's Driving US Interest in Cricket
Growing Indian diaspora in North America
Cricket at 2028 LA Olympics
India's sports economy crossed $2B in 2025
Cricket's 89% share of India's sports revenue
Pre-empting Saudi PIF investment interest
IPL franchises: only 10 exist, few ever for sale
"The Indian market has volume, and the Olympics will expand its global footprint, while investment interest from Saudi Arabia and UAE adds further impetus."
According to Simon Chadwick, professor of Afro-Eurasian Sport at Emlyon Business School, the surge in US interest in cricket is being driven by a mix of factors: the growing Indian diaspora in North America, cricket’s inclusion in the 2028 Los Angeles Olympics, and the sport’s expanding commercial footprint worldwide.
Chadwick said the ‘Indian diasporas across North America have rapidly become the heartbeat of cricket’s impending global revolution’ and are ‘accentuating cricket’s commercial proposition’.
“The likes of Google CEO Sundar Pichai have become prime movers in promoting the game, especially in the US — the world’s biggest domestic market for sport. They have convinced investors that there’s a strong business case for investing in cricket,” Chadwick told The
Indian Express. “The Indian market has volume, and the Olympics will expand its global footprint, while investment interest from the Saudi Arabian and UAE governments adds further impetus.”
There’s also the affordability factor. The average franchise value in the NFL stands at $5.1 billion and in the NBA at $3.9 billion, according to The Conversation.
IPL teams, in this context, are bargain buys — especially given the potential for high returns on investment.
A WPP Media report earlier this week revealed India’s sports economy crossed $2 billion in 2025. Cricket dominates with an 89 per cent share, including 81 per cent of sponsorship spends, 87 per cent of endorsements, and 95 per cent of media investments — most of it driven by the IPL.
The
twin IPL franchise sales on Tuesday commanded a combined $3.41 billion — nearly five times the $723.59 million paid by the league’s eight founding franchises in 2008.
The Manoj Badale-led Emerging Media consortium exited Rajasthan at a staggering 2,333% return, selling its stake for $1.63 billion — a dramatic leap from the original outlay of $67 million. Within hours came confirmation that
Royal Challengers Bengaluru had also found new owners, commanding $1.78 billion.
Driving these soaring valuations is a clear common thread: American capital.
Rajasthan’s new ownership group includes US-based entrepreneur Kal Somani, Walmart heir Rob Walton — who also owns NFL franchise the Denver Broncos — and the Ham family, owners of the Detroit Lions.
RCB has been acquired by the Aditya Birla Group and the Times Group alongside US-based firms Bolt Ventures and Blackstone. Bolt Ventures is led by prominent sports investor David Blitzer, whose portfolio spans multiple leagues and continents — from the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils to the Premier League’s Crystal Palace and MLS side Real Salt Lake.
Over the past decade, American investors have increasingly turned to global sport, particularly European football and the English Premier League, as fertile investment ground. Now, that playbook is extending to cricket.
Chadwick said the ‘Indian diasporas across North America have rapidly become the heartbeat of cricket’s impending global revolution’ and are ‘accentuating cricket’s commercial proposition’.
“The likes of Google CEO Sundar Pichai have become prime movers in promoting the game, especially in the US — the world’s biggest domestic market for sport. They have convinced investors that there’s a strong business case for investing in cricket,” Chadwick told The
Indian Express. “The Indian market has volume, and the Olympics will expand its global footprint, while investment interest from the Saudi Arabian and UAE governments adds further impetus.”
There’s also the affordability factor. The average franchise value in the NFL stands at $5.1 billion and in the NBA at $3.9 billion, according to The Conversation.
IPL teams, in this context, are bargain buys — especially given the potential for high returns on investment.
A WPP Media report earlier this week revealed India’s sports economy crossed $2 billion in 2025. Cricket dominates with an 89 per cent share, including 81 per cent of sponsorship spends, 87 per cent of endorsements, and 95 per cent of media investments — most of it driven by the IPL.
Chadwick pointed to the ‘size of India’s domestic market alongside the maturity in large sport markets such as the UK and Australia’. “One can see there’s a firm platform for expansion. One also needs to remember that the Arabian Gulf region has rapidly emerged as an important cricket hub. Current US investment in Indian cricket could, in part, be an attempt to pre-empt possible investment from the likes of Saudi Arabia’s Public Investment Fund,” he said.
Santosh N, managing partner at D&P Advisory, said American investors may not be taking a long-term position. He cited CVC Capital, which made a significant profit by selling a 67 per cent stake in
Gujarat Titans to the Torrent Group for approximately Rs 5,025 crore in 2025 — having purchased the franchise for Rs 5,625 crore in 2021, recovering most of its initial investment while retaining a 33 per cent stake.
“The way these guys look at it is they will say, okay, I’ll hold on to it for five years, eight years… If I’m able to make a 30 per cent per annum sort of return, I’m going to sell and exit and make money,” Santosh said.
**For Indian conglomerates, a ‘trophy asset’**
If IPL investments are a means of making a quick profit for American capitalists, for Indian owners these are ‘trophy assets’, Santosh added — their high valuations a product of a skewed demand-supply ratio.
“This is a prestige issue. I want it. This gives me satisfaction. These are assets that massage your ego,” he said. “Everybody knows some of these assets don’t really make money in the long run. But it is very important for rich people to have them.”
Santosh added that entry points into the IPL are limited for Indian billionaires, given only 10 franchises exist and half are owned by conglomerates unlikely to sell. “There are so many billionaires interested in acquiring a team and hardly two or three available for purchase. So there is a huge premium out there.”
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