The new ownership of Royal Challengers Bengaluru (RCB) has raised a lot of interest among the fans especially with inquires on whether the franchise will change its name. In a historic transaction, worth about 1.78 billion dollars (₹16,700 crore), the Bengaluru based team has been sold by a consortium headed by the Aditya Birla Group and this is the highest price paid to date as a franchise in the Indian Premier League.
The consortium consists of major investors like the US based sports investor, David Blitzer, and the blackstone which is a giant in the field of private equity and also the Times of India group. The stake was bought out of United Spirits Limited, whereby Royal Challengers Sports Private Limited had a previous ownership.
Amidst the heavy rumor-mongering about the potential rebranding, an update by Ananya Birla to social media seems to have shed light. A post that she republished in an Instagram story indicated that the RCB franchise will keep its current name and that its identity will not change under the new, significant change of the ownership.
The sale is a major milestone to the IPL, as it points at the appreciation of its franchises in terms of commercial importance. It also owns both men and women teams, which further gives the group strength in the field of Indian cricket.
The change of ownership but the decision to maintain the name shows that the organization is interested in sustaining brand equity, fan base and the international fame that Royal Challengers Bengaluru has established over the years.