The Royal Challengers Bengaluru (RCB), a prominent franchise in the Indian Premier League (IPL), is on the verge of a significant ownership change. Diageo, the current owner via United Spirits, has set a deadline of March 31, 2026, for final bids on its 65% controlling stake in the team. This sale could potentially fetch up to $2 billion, underscoring the franchise’s immense value in the sports market.
Currently, two main parties are competing for the purchase: a consortium led by EQT and another led by Ranjan Pai, Kohlberg Kravis Roberts and Co. (KKR), and Temasek. This competitive bidding environment highlights the franchise’s status as one of the most valuable sports properties in the subcontinent.
RCB’s valuation has surged recently, particularly following a remarkable 73% revenue increase after their title win in 2025. This success has attracted significant interest from investors, although previous contenders like the Glazer family and Adar Poonawalla have reportedly maxed out their offers at $1.8 billion.
The upcoming IPL season, which kicks off on March 28, 2026, adds urgency to the bidding process. RCB is set to play their first match against Sunrisers Hyderabad on the same day, making the ownership transition a critical factor for the team’s performance and marketing strategies.
Diageo’s decision to sell is rooted in its view of the franchise as non-core to its primary business interests in the beverage industry, despite RCB serving as a significant promotional platform for its Royal Challenge Indian whisky brand. The potential sale reflects a strategic shift for Diageo, which is focusing on its core operations.
As the deadline approaches, the dynamics of the bidding process will be closely monitored by stakeholders within the IPL and the broader sports investment community. The outcome of this sale will not only impact the future of RCB but also set a precedent for sports franchise valuations in India.
Details remain unconfirmed regarding the final bids and any potential new ownership structures. However, the interest from high-profile investors suggests that RCB’s legacy and marketability will continue to thrive in the competitive landscape of professional sports.
