Royal Challengers Bengaluru (RCB), the defending IPL champions and one of the most popular franchises in the league, could soon see a change in ownership. The current owner, Diageo Great Britain, through its Indian arm United Spirits, is reportedly exploring options to sell the franchise either fully or partially.
Background: From Vijay Mallya to Diageo
RCB was originally owned by Vijay Mallya’s United Breweries Group, before Diageo, a British liquor giant, took control following Mallya’s financial troubles. While Diageo successfully managed RCB through a turbulent phase, the company’s focus has always been on the liquor business — making IPL ownership a non-core asset.
After winning their first-ever IPL title in 2025, RCB’s brand value has surged, but so have the operational costs. This combination of rising expenses and Diageo’s strategic refocus on its core business is pushing the company to explore a sale.
Read Also:- Highest Wicket-Takers for RCB in IPL History
Why Diageo Wants to Sell RCB
The reasons behind Diageo’s decision to consider selling or reducing its stake include:
| Reason | Explanation |
|---|---|
| Non-core business | Managing an IPL team doesn’t align with Diageo’s primary focus on beverages. |
| Rising operational costs | Player salaries, marketing, and logistics have grown rapidly, increasing yearly expenditure. |
| Declining overall IPL valuation | After restrictions on real-money gaming ads, some sponsorship and valuation growth has slowed. |
| Profitability pressure | The cost of maintaining team infrastructure and staff is higher than expected returns. |
Despite these challenges, RCB remains one of the most valuable brands in the IPL ecosystem, which makes it an attractive asset for potential buyers.
RCB’s Valuation: The $2 Billion Question
Reports indicate that Diageo has set a valuation of around USD 2 billion (₹16,600 crore) for RCB.
However, opinions differ on whether the franchise is worth that much.
The valuation is tied to future IPL media rights projections, particularly with the JioStar merger (Jio + Star Sports) expected to boost IPL’s broadcast reach to over 500 million subscribers.
Estimated Revenue Potential
| Source | Five-Year Projection (USD) | Details |
|---|---|---|
| Subscription revenue | $10 billion | Based on ₹100/month plan for 500M users |
| Advertisement revenue | $2.5 billion | Projected across 5 IPL seasons |
| Total media rights cycle | $12.5 billion | Possible next cycle projection |
Given such projections, RCB’s $2 billion price tag might not be unrealistic.
Who Are the Interested Buyers?
At least six potential investors are reportedly in talks with Diageo. These include major Indian business houses and foreign private equity firms.
| Potential Buyer | Company/Group | Notes |
|---|---|---|
| Adar Poonawalla | Serum Institute of India | Publicly expressed interest on X; might tie up with a U.S. firm. |
| Parth Jindal | JSW Group | Already co-owns Delhi Capitals; would have to sell that stake to buy RCB. |
| Gautam Adani | Adani Group | Previously bid for Ahmedabad IPL franchise in 2022. |
| Unnamed Delhi Business Tycoon | Private | Multi-sector investments; identity not yet revealed. |
| Two U.S. Private Equity Firms | Confidential | Exploring long-term investment in IPL growth. |
These names reflect the strong corporate and global interest in IPL ownership, especially after RCB’s championship success.
🚨 6 PARTIES HAVE INTERESTED TO BUY RCB 🚨 (Cricbuzz).
— Tanuj (@ImTanujSingh) October 17, 2025
– Adar Poonawala (Serum Institute).
– Parth Jindal (JSW Group).
– Adani Group.
– A famous business tycoon based out of Delhi.
– Two US-based private equity firms. pic.twitter.com/Mph9en0DHh
The Challenges Ahead
While the sale seems attractive, a few roadblocks could delay or derail the deal:
- Diageo India’s resistance: The Indian arm of Diageo reportedly wants to retain RCB, seeing it as a profitable branding platform.
- Legal and stadium issues: The June 4 stampede tragedy at Bengaluru’s M. Chinnaswamy Stadium remains unresolved, creating legal uncertainty.
- Regulatory constraints: JSW or Adani’s involvement may need BCCI approval and potential restructuring of existing franchise stakes.
Two global banks, including Citi, have been appointed as transaction advisors to guide the potential sale and valuation process.
Like to read: Top Run Scorers for RCB in IPL
What Happens Next?
A final decision is expected in the coming weeks, as Diageo reviews financial offers and legal implications. If a deal is finalized, IPL 2026 could see a new owner leading the Royal Challengers Bengaluru franchise — marking a new chapter in the team’s journey.
Conclusion
The potential sale of RCB highlights how the IPL has evolved from just a cricket tournament to a multi-billion-dollar sports business. For Diageo, it’s a strategic move to exit a non-core investment, while for groups like Adani, Jindal, or Poonawalla, it’s a golden opportunity to own one of India’s most iconic teams.
Whether RCB’s next innings will be under a new corporate banner or remain with Diageo — the next few weeks will decide the future of this billion-dollar franchise.
