Aditya Birla Group bets big on IPL boom, says media rights frenzy is far from over
Mumbai: Aditya Birla Group is betting on the long-term growth of Indian sports, arguing that the Indian Premier League’s (IPL) media rights value will continue to appreciate despite near-term concerns around broadcaster consolidation and potential weaker competition in future media rights auctions.
The conglomerate, which recently acquired Royal Challengers Bengaluru (RCB) for $1.78 billion through a consortium that included Bolt Ventures, The Times of India (publishers of The Economic Times), and a Blackstone fund, said India’s economic growth, rising sports consumption, and the scarcity of premium sports assets would underpin future valuations.
