An off-field battle is heating up for the 2026 IPL season, with a billionaire investor set to bid for a majority stake in one of the top IPL franchises. Sources say he is negotiating with both Royal Challengers Bengaluru and Rajasthan Royals and is set to go head-to-head with Indian business moguls and global sporting leaders.

The US-based investor David Blitzer - a co-founder of Harris Blitzer Sports & Entertainment and an executive at the private equity firm Blackstone Group - has conducted due diligence checks on both teams. Sources involved in the discussions said Royal Challengers Bengaluru (last season's IPL winner) is valued at about $1.8bn, and that Rajasthan Royals is also up for grabs. The team is majority-owned by London-based venture capitalist Manoj Badale.

Neither Royal Challengers Bengaluru nor Rajasthan Royals would comment, and Blitzer could not be reached for comment.

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The interest in the IPL would allow Blitzer to expand his existing sports holdings which includes majority stakes in the NBA team Philadelphia 76ers and NHL side New Jersey Devils. Going up against Blitzer is Avram Glazer, co-chairman of Manchester United, and two Indian business magnates in the form of Adar Poonawalla, chief executive of Serum Institute of India, and Ranjan Pai, chairman of Manipal Education and Medical Group.

According to the sources, Blitzer and Glazer are looking into forming consortia with investors and lenders, so they can secure a majority stake in one of the two franchises. Final bids are expected by mid-March and ahead of the March 26 start of the 84-match tournament.

Sources say that Blitzer's family office, BOLT Ventures, is also through to the second round of talks for the two franchises and that there is a lot of 'serious work' happening regarding the bid for the clubs, which would need to get clearance from the Board of Control for Cricket in India (BCCI).

Financially both franchises are performing well, with Royal Challengers Bengaluru recording revenue of $56m for 2024-25 - a 73% jump over the last three years, and Rajasthan Royals with a 136% growth in revenue over the same period. Citigroup is the bank managing the sale of Royal Challengers Bengaluru while Raine Group is the advisor for Rajasthan Royals.

With competition set to hot up from all corners of the globe, and particularly from Indian investors, the 2026 IPL is shaping up to be another enthralling spectacle.