Diageo, owner of the Royal Challengers Bengaluru (RCB), is planning to sell the franchise. Yesterday, it was reported that the ownership change will happen by March 31, 2026.
Indian billionaire consortium to bid for RCB
We already know Adar Poonawalla, owner and chief executive officer (CEO) of Serum Institute of India, has shown interest in acquiring the Indian Premier League (IPL) franchise worth $269 million. Back in October, it was reported that Poonawalla was in discussion with Diageo. A day after the news broke out, Poonawalla himself confirmed it. “At the right valuation, @RCBTweets is a great team,” he had written on social media.
But he isn’t the only Indian billionaire in the hunt. According to the Times of India, Nikhil Kamath, co-founder of brokerage platform Zerodha, and Ranjan Pai, chairman of the Manipal Education and Medical Group (MEMG), are looking to form a consortium to bid for RCB.
The two Kannadigas are worth $2.5 billion and $2.8 billion, respectively, and can connect with RCB’s passionate fanbase. Fascinatingly, Poonawala, who’s worth more than $20 billion, might join them to form the said consortium.
Apart from them, Parth Jindal of the Jindal South West (JSW) Group, co-owner of the Delhi Capitals (DC), is also in the running to bid for RCB.
What’s the acquisition price?
It was reported that Diageo was looking to sell the IPL franchise at $2 billion (approximately INR 17,775 crore). But Poonawalla wasn’t convinced and had previously raised concerns over RCB’s evaluation. Virat Kohli could play a major role in the valuation of the franchise.
Apart from the fact that the IPL’s valuation has decreased over the last couple of years, Kohli’s potential retirement might change things. If and when he retires, RCB’s valuations will certainly drop. He has been the face and backbone of the franchise, and once he leaves, there might be an identity crisis for the team.
