In the biggest win (so far) in franchise cricket, the great Royal Challengers Bengaluru (RCB) is being acquired by a consortium for a record ₹16,706 crore from Aditya Birla Group. To finance this investment the group will incorporate Blackstone (private investment agency for Blackstone) and billionaire David Blitzer (Bolt Ventures), the Times Group.
One of the biggest franchise deals in Indian Premier League (IPL) history so far– the growing financial strength, the global reach of this franchise and its reach into youth and international football will see one deal this day in and time on the same, which could make RCB fans happy more so.
Previously, the franchise was owned by United Spirits Limited (USL), a subsidiary of the London-based Diageo. USL purchased the team during the early days of IPL when its brand name “Royal Challengers” was inspired by its signature whisky brand 'Royal Challenge.’ The franchise was originally owned by businessman Vijay Mallya as part of Vijay Mallya’s branding strategy.
Because the owner now has gone to a group not connected to the liquor company, discussions on a name change are growing. Retaining the "Royal Challengers Bengaluru" name might also have the potential to keep the brand “Royal Challenge” in the mix– for which it would not be in good interest of new owners at all.
But RCB's identity extends much broader than branding. For years now RCB have attracted a very loyal fan base and “RCB” has come to represent loyalty, energy-energy and emotion. Even if a name change of course happens the new owners hope to maintain “RCB” in some manner as a name to represent the continuity of the brand as it exists and as there is a fan base to respect it.
In IPL history many times franchises have revamped themselves after changes of owners. A new name for RCB seems to be in reach in the next few months.
The acquisition includes the men’s and women’s teams, signaling a comprehensive investment in the franchise’s future across formats. With strong financial backing and a lot of strategic partners ready to contribute to the development of the brand, I believe the new ownership could bring in new visions, better infrastructure, maybe a much better record on the field in those instances in the future.
Last month Diageo said it would abandon the franchise because cricket was not to the extent of its core business. The firm had said that it could end the sale by March 31 and that appears quite likely.
There is little doubt and as long as we wait for formal confirmation and the rebranding as a result is made in advance, the story of RCB is on the runway for change and as the team and fans go from now to there.
