Billion-dollar bidding war: Man United owner and Adar Poonawalla chase RCB & Rajasthan Royals
The Indian Premier League is set for a financial shake-up as two of its original franchises, Royal Challengers Bengaluru and Rajasthan Royals, attract bids exceeding $1.8 billion. Following their 2025 IPL title win, RCB has become the league's "hottest asset," drawing interest from global sports tycoons and Indian billionaire powerhouses alike.
RCB shortlist:
At least eight investors have been shortlisted for the defending champions. Diageo, the current owner, aims to exit by March 31, 2026, viewing cricket as a "non-core" business.
Avram Glazer (Lancer Capital): The highest non-binding bidder at $1.8 billion (approx. ₹16,303 crore).
Adar Poonawalla: The Serum Institute of India CEO confirmed his intent to place a "strong and competitive" bid.
Dr. Ranjan Pai (Manipal Group): Reportedly in talks with private equity giants like KKR and Temasek to form a consortium.
Sanjay Govil: The US-based businessman who already owns Washington Freedom (MLC) and Welsh Fire (The Hundred).
Rajasthan Royals:
The inaugural IPL winners are also on the verge of a full sale. Majority owner Manoj Badale’s Emerging Media is evaluating five shortlisted parties.
Shortlisted parties: Lancer Capital, Capri Global, Times of India Group, Sanjay Govil, and tech entrepreneur Kal Somani.
Estimated valuation: Bids for RR are expected to range between $1.2 billion and $1.4 billion.
Process: The sale is being managed by Raine Group, the same firm that oversaw the sales of Chelsea FC and Manchester United.
IPL valuation explosion: 2008 vs. 2026
The 2026 bids for a single team now exceed the combined $1.69 billion price of the Lucknow and Ahmedabad expansion teams sold in 2021.
BCCI ratification & "Exclusivity" rule
While the current owners have the final say, the BCCI must ratify any sale and will receive a 5% cut of the total transaction. Crucially, BCCI rules prohibit a single entity from owning more than one IPL franchise. If Avram Glazer or Sanjay Govil are successful in both bids, they will be forced to choose one.
RCSPL (RCB) has been a strategic asset, but it’s non-core to our alcobev business. We are reviewing our portfolio to enable long-term value for stakeholders.
United Spirits (Diageo) Statement
