The Royal Challengers Bengaluru (RCB) are poised for a monumental shift in ownership, with Diageo setting a deadline of March 31, 2026, for final bids on its 65% controlling stake. This sale could potentially fetch up to $2 billion, a staggering figure that underscores the franchise’s immense value in the Indian Premier League (IPL).
Currently owned by Diageo through United Spirits, RCB is regarded as one of the most valuable sports properties in the subcontinent. The franchise has garnered significant attention, particularly following a remarkable 73% revenue surge after their title win in 2025. This victory has not only heightened their market appeal but also intensified interest from potential buyers.
Two prominent parties are currently in the running for the purchase: a consortium led by EQT and another spearheaded by Ranjan Pai, Kohlberg Kravis Roberts and Co. (KKR), and Temasek. These bidders are vying for control of a franchise that is considered potentially the most popular team in the cash-rich IPL.
Previously, the Glazer family and Adar Poonawalla expressed interest in acquiring RCB but have reportedly maxed out their offers at $1.8 billion. Presently, the current binding bids stand between $1.5 billion and $1.7 billion, indicating a competitive landscape as the deadline approaches.
The IPL season is set to commence on March 28, 2026, with RCB scheduled to play their first match against Sunrisers Hyderabad on the same day. This timing adds urgency to the bidding process, as new ownership could influence team dynamics and strategies ahead of the season.
Despite the lucrative prospects, Diageo views the franchise as non-core to its drinks interests, even though it serves as a significant advertisement for the Royal Challenge Indian whisky brand. This decision to divest reflects a strategic shift within the company, prioritizing its core beverage business over sports investments.
As the deadline for bids looms, the future of RCB hangs in the balance. The outcome of this sale could reshape the landscape of the IPL and set new precedents for franchise valuations in the league.
Details remain unconfirmed regarding the final bids and the potential impact on the team’s operations. With the stakes so high, all eyes will be on the developments leading up to the March deadline.
