IPL team ownership battle heats up as David Blitzer steps in

US billionaire David Blitzer has emerged as a key contender in the race to acquire a majority stake in an Indian Premier League franchise, holding discussions with Royal Challengers Bengaluru and Rajasthan Royals, sources said.

Blitzer, a co-founder of Harris Blitzer Sports & Entertainment and an executive at Blackstone, is understood to be conducting detailed evaluations of both teams. Royal Challengers Bengaluru are reportedly valued at about $1.8 billion, reflecting the soaring valuations across the IPL.

A potential deal would further expand Blitzer’s global sports investments, which already include ownership stakes in the Philadelphia 76ers and the New Jersey Devils.

The bidding process has attracted intense interest, with Avram Glazer and several Indian business leaders also competing for ownership. Final bids are expected by mid-March, with any agreement subject to approval from the Board of Control for Cricket in India.