The Royal Challengers Bengaluru (RCB), fresh off their maiden Indian Premier League (IPL) title win in 2025, have become the target of a high-stakes bidding war, with valuations nearing USD 2 billion. Fueling this surge in value is the team's transformation from perennial underachievers to IPL champions, coupled with the Women's team securing their second Women's Premier League (WPL) title. This newfound success has attracted the attention of global investors, including Avram Glazer, co-owner of English football giants Manchester United.
Diageo, through its Indian arm United Spirits Ltd (USL), formally initiated the sale process for Royal Challengers Sports Pvt Ltd (RCSPL), the entity that owns both the men’s and women’s RCB teams. Diageo's decision to sell stems from a strategic review that identified RCB as a non-core asset, falling outside its primary focus on alco-beverages. Citigroup has been appointed as the transaction advisor.
According to reports, at least nine parties have submitted non-binding bids for RCB, with valuations ranging from USD 1 billion to USD 1.8 billion. The Glazer family, via Avram Glazer's Lancer Capital, has reportedly made the most aggressive offer, close to $1.8 billion. The Glazers already possess cricket ownership experience through their ownership of the Desert Vipers in the UAE's ILT20 league, the reigning champions of that tournament. Their interest in RCB signifies a growing crossover between football and cricket ownership.
Besides the Glazers, other notable parties have expressed interest in acquiring the RCB franchise. Indian pharma entrepreneur Adar Poonawalla has publicly stated his intention to make a strong and competitive bid. Several outlets cite that nine non-binding proposals were received in the initial round, with valuations spanning roughly $1 billion up to the $1.8 billion reported for the Glazer offer. Private equity giants Blackstone and Carlyle are also understood to be evaluating the opportunity. Additionally, there has been speculation regarding potential interest from the Qatar Investment Authority, Adani Group, and JSW Group.
RCB's brand value has significantly increased due to its on-field success and passionate fan base. The franchise boasts strong commercial partnerships and a global following, further amplified by its location in Bengaluru, a major commercial hub in India.
The sale process is expected to conclude by March 31, 2026. The current owners, Diageo, are reportedly seeking a valuation of around USD 2.1 billion following the 2025 title win. United Spirits informed SEBI in November that RCB was being reviewed as a non-core asset, outside its core alco-beverages focus.
The acquisition of RCB presents a lucrative opportunity for potential owners to tap into the growing popularity of the IPL and the immense brand value associated with the franchise. With the league's expanding media rights and sponsorship opportunities, owning an IPL team like RCB has become an attractive investment for the world's wealthiest individuals and organizations.