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India-US consortium buys IPL Royal Challengers Bengaluru for $1.7bn

A consortium of investors, including US asset management giant Blackstone, on Tuesday announced the takeover of Royal Challengers Bengaluru (RCB), one of the founding clubs of the Indian Premier League (IPL), for nearly $1.8 billion. The announcement comes just days before the start of the lucrative T20 tournament on Saturday. The franchise, which won the…