NBA’s Philadelphia 76ers Owner David Blitzer In IPL Bidding War For RCB

India-West News Desk

NEW YORK, NY – American billionaire David Blitzer has entered a high-stakes race for a majority stake in the Indian Premier League, sparking a bidding war against Manchester United co-chairman Avram Glazer and a lineup of prominent Indian tycoons.

Blitzer, the co-founder of Harris Blitzer Sports and Entertainment, is currently conducting due diligence on both the Royal Challengers Bengaluru and the Rajasthan Royals. According to Reuters, the talks value the Bengaluru-based franchise, the league’s defending champion, at approximately $1.8 billion.

Blitzer brings a massive sporting pedigree from the United States as he looks to expand his footprint into the world’s most lucrative cricket league. He is known for being the first person to hold stakes in all five major North American professional sports leagues, with a portfolio that includes the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils, the MLB’s Cleveland Guardians, and a minority interest in the NFL’s Washington Commanders.

This background in American franchise management is a primary driver in his push to diversify into the Twenty20 format.

The competition for control is intense as global investors look to capitalize on the league’s $18.5 billion dollar valuation.

Blitzer is competing directly with fellow American Avram Glazer, the owner of the NFL’s Tampa Bay Buccaneers, who has already submitted initial bids for both teams, Reuters reported.

Domestic interest is equally formidable, with Serum Institute of India CEO Adar Poonawalla and Manipal Group chairman Ranjan Pai emerging as key Indian contenders for the Bengaluru franchise. Reuters reported that global private equity firms KKR and Blackstone are also in the mix, with Blackstone showing particular interest in the Bengaluru team.

The potential sale comes as current owners look to capitalize on massive revenue growth. Royal Challengers Bengaluru reported a 73 percent revenue increase over the last three years, while the Rajasthan Royals saw a jump of 136 percent in the same period.

The current Bengaluru owner, Diageo, has labeled the team as a non-core asset to its primary alcohol business, opening the door for new partners. Any final agreement will require the approval of the Board of Control for Cricket in India, which remains the wealthiest governing body in the sport.