Blackstone Inc. and Carlyle Group Inc. are competing with Indian billionaires to purchase stakes in teams from the Indian Premier League. The move targets the country’s most successful professional cricket league, capitalizing on the sport’s surging popularity in one of the world’s fastest-growing economies.

Private equity giants see cricket as a high-growth asset in India. The IPL’s franchise model has proven lucrative, with team values soaring. This bidding war signals Wall Street’s growing appetite for sports investments beyond traditional markets, seeking exposure to India’s consumer boom.

Billionaires like Mukesh Ambani and Shah Rukh Khan already own teams. Blackstone and Carlyle’s entry could reshape league ownership dynamics. Investors will watch deal valuations and whether foreign capital alters the league’s structure. The outcome may set a precedent for global funds in emerging sports markets.