U.S. investor David Blitzer has advanced to the second round of discussions to acquire a controlling stake in either Royal Challengers Bengaluru (RCB)
or Rajasthan Royals (RR), intensifying what is fast becoming one of the most high-profile bidding races in IPL history.
Through his family office, BOLT Ventures, Blitzer is conducting due diligence on both franchises, with RCB reportedly valued at approximately $1.8 billion following a 73 percent revenue surge and their IPL 2025 title win over Punjab Kings.
The contest has drawn heavyweight interest. Manchester United co-chairman Avram Glazer is understood to have submitted preliminary bids, while Indian industrialists including Adar Poonawalla and Ranjan Pai are also evaluating stakes. Advisory mandates have been handed to Raine Group for Rajasthan Royals and Citigroup for RCB, with final bids expected by mid-March, subject to approval from the Board of Control for Cricket in India (BCCI).
The scale of the bidding underlines the IPL's commercial rise, with franchise valuations now rivaling - and in some cases exceeding - established European football clubs.
Who Is David Blitzer?
Blitzer, 56, is best known as a senior executive at Blackstone, where he runs the firm's tactical opportunities group. His personal net worth stands at approximately $4 billion, placing him among the world's billionaires. A graduate of the Wharton School at the University of Pennsylvania, where he finished magna cum laude, Blitzer has built a diversified sports portfolio over the past decade.
In 2011, he partnered with Apollo Global's Joshua Harris to acquire the Philadelphia 76ers. The group later expanded into the NHL with the New Jersey Devils and into English football with Crystal Palace. Blitzer also owns a stake in MLB's Cleveland Guardians, co-owns MLS side Real Salt Lake, and was part of the consortium that purchased the Washington Commanders for $6.05 billion in 2023.
An IPL acquisition would extend his global sports footprint into what investment bankers now describe as one of the fastest-growing leagues in world sport.
