Saudi Arabia to lift Qatar embargo, easing the Gulf crisis
Dubai: Saudi Arabia will open its airspace and land border to Qatar in the first step toward ending a years-long diplomatic crisis that deeply divided US defense partners, frayed societal ties and tore apart a traditionally clubby alliance of Gulf states, officials said late Monday.
Qatar's only land border has been mostly closed since mid-2017, when Saudi Arabia, Egypt, the United Arab Emirates and Bahrain launched a blockade against the tiny Gulf state, accusing it of supporting extremist groups and of having warm ties with Iran.
The Saudi border, which Qatar relied on for the import of dairy products, construction materials and other goods, opened briefly during the past three years to allow Qataris into Saudi Arabia to perform the Islamic hajj pilgrimage.
It was unclear what concessions Qatar had made or is promising to make regarding a shift in its policies.
Kuwait, which had been mediating throughout the dispute, was first to announce the diplomatic breakthrough through its foreign minister. Earlier on Monday, the foreign minister had reportedly traveled to Doha to deliver a message to Qatar's ruling emir, Sheikh Tamim bin Hamad Al Thani.
While the Saudi decision marks a major milestone toward resolving the Gulf spat, the path toward full reconciliation is far from guaranteed. The rift between Abu Dhabi and Doha has been deepest, with the UAE and Qatar at sharp ideological odds.
Following Kuwait's announcement, the UAE's Minister of State for Foreign Affairs, Anwar Gargash, tweeted that his country was keen to restore Gulf unity. However, he cautioned: We have more work to do and we are in the right direction.
The lifting of the embargo by Saudi Arabia paves the way for Qatar's ruler to attend an annual summit of Gulf leaders Tuesday that will be held in the kingdom's ancient desert site of Al-Ula. The summit would traditionally be chaired by Saudi King Salman, though his son and heir, the crown prince, may instead lead the meeting.
Qatar confirmed late Monday that Sheikh Tamim would be attending the summit, a move that analysts say would have been domestically sensitive for him had the Saudi blockade still been in place.
This year, Egypt's president has also been invited to attend the summit of the six-nation Gulf Cooperation Council, which comprises Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar.
Kuwait's foreign minister said in a statement carried on state TV that Kuwait's ruler had spoken with Qatar's emir and Saudi Arabia's crown prince. The conversations "emphasized that everyone was keen on reunification, and would gather in Al-Ula to sign a statement that promises to usher in a bright page of brotherly relations.
The summit will be inclusive, leading the states toward reunification and solidarity in facing the challenges of our region, Saudi Crown Prince Mohammed bin Salman was quoted as saying in remarks carried by the Saudi state-run news agency.
The decision to end the Saudi embargo comes just weeks after President Donald Trump's advisor and son-in-law, Jared Kushner, visited the kingdom and Qatar in a final push by the administration to secure a diplomatic breakthrough.
It also comes just ahead of President-elect Joe Biden's swearing in. Saudi Arabia may be seeking to both grant the Trump administration a final diplomatic win and remove stumbling blocs to building warm ties with the Biden administration, which is expected to take a firmer stance toward the kingdom.
Normalisation with Qatar could buy Saudi Arabia time to strike compromises with the Biden administration on other issues, like its war in Yemen and potential U.S. re-engagement with Iran, said Samuel Ramani, a non-resident fellow at the Gulf International Forum.
Saudi Arabia could frame a partial d tente, which allows Qatari civilian planes to fly over Saudi airspace and de-escalates the information war, as proof of 'new thinking' in Riyadh, Ramani said ahead of the announcement.
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Aditya Birla Group-led consortium acquires RCB for USD 1.78 billion
Bengaluru (PTI): A consortium led by the Aditya Birla Group (ABG) on Tuesday acquired 100 percent equity stake in IPL franchise Royal Challengers Bengaluru for a whopping USD 1.78 billion (approximately Rs 16,706 crore) from its current owner the United Spirits Limited.
Other parties involved in the group are -- Blackstone’s perpetual private equity strategy, BXPE, a firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.
“United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium,” the USL said in a statement.
“The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction,” the statement added.
The transaction includes RCB's men’s and women’s (WPL) teams.
“RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL).
“Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise,” said the USL.
The announcement also concluded the strategic review of RCSPL that was initiated by USL on November 5, 2025.
The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL.
“We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders.”
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India.
“RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.”
As per the sale agreement, Aryaman Vikram Birla, ABG’s director, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
Aryaman Birla, said: “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses.
“Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is.”
Gajwani, Chairman, Times Internet Limited, said: “RCB is the reigning champion and the most popular brand in the IPL. We will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase.”
Blitzer hoped to build on RCB’s recent success.
“RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out.
We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success,” he said.
Patel praised the RCB as one of the strongest sporting brands in the world.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth,” he added.
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx Rs 15,290 crore),
The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).
Somani is an Arizona-based tech entrepreneur who has founded IntraEdge (technology services and solutions), Truyo.Ai (data privacy rights and AI governance) and Academian (edtech services).
The other contenders to buy the team, which won the inaugural trophy in 2008, were the Times Internet-led consortium, the Aditya Birla Group and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
