The Glazer family was in position for a massive win until everything flipped. Led by Avram Glazer, the family was part of a high-stakes race worth billions, but the outcome took a turn no one saw coming.

In a recent series of events, the 2025 Indian Premier League (IPL) champions, the Royal Challengers Bengaluru franchise, were sold to a consortium of Indian and overseas business entities. 

But why are we discussing that here? David Blitzer, part of Bolt Ventures, with an ownership stake in the Washington Commanders, was also involved in the successful consortium.

As announced by the former owners, United Spirits Limited (USL), on their social media. In an “all cash”  deal of $1.78B (INR 16,600 Cr. approx), the board has approved a deal with Aditya Birla Group, the Times of India Group, Bolt Ventures, and Blackstone's perpetual private equity strategy, BXPE.

Both the Bengaluru teams will now be “owned and operated” by the consortium. 

But why turn in a profitable franchise? In November 2025, Diageo, a global alcohol and beverage giant, the owner of USL India, revealed that while filing with India’s market regulator Securities and Exchange Board of India (SEBI), it had begun a “strategic review” of its stake in RCB. 

Upon the findings, the company made it clear that cricket was not a core focus and aimed to complete the sale by March 31.

According to ESPNcricinfo, there were multiple bidders for the franchise ownership, and one of them was Lancer Capital, owned by Avram Glazer. Due to the valuation of the deal exceeding the proposed range of $1.2 billion to $1.8 billion, they decided not to submit the final binding bid. 

The sale price exceeded the valuation of $2B, prompting Lancer Capital and other suitors, such as Adar Poonawalla, to opt out. 

What’s Next for the Glazer Family After Missing Out on the $1.78B Deal

The global commercial market and the fanbase for cricket are huge!

Missing the opportunity to acquire the RCB franchise does not translate to a huge hurdle for the Glazer family. Being among the five investors listed, the Lancer Capital under Avram Glazer can still acquire another franchise, the Rajasthan Royals (RR), to carry on with their diversification into global sports. 

They were looking to invest around $1 billion in acquiring both the franchises, but since RCB is out of the picture, they will now focus on getting RR. Glazer has previously attempted a bid of INR 4,128.65 Cr. (around USD 44 million) for Ahmedabad and INR 4,023.99 Cr. (426.54 Million USD) for Lucknow in 2021. Their earlier bid through Lancer Capital shows the scale of intent to enter global sports markets beyond the NFL. With capital and experience on their side, now, it’s more about timing and fit. 

Avram has already held multiple ownership stakes in Manchester United and the Tampa Bay Buccaneers since 1995. Followed by the Desert Vipers (UAE T20 cricket) via Lancer Capital for $30 million. 

If another franchise opportunity opens up, we can expect him back with a new strategy. What do you think he should get into? Share your thoughts in the comments.

Written by

Kunwar Yashaswee Chhaunker

Edited by

Joyita Das