The buzz around Royal Challengers Bengaluru (RCB) refuses to fade, even after their maiden Indian Premier League (IPL) title in 2025. Months after lifting the long-awaited trophy, RCB’s parent company, Diageo Great Britain, has reportedly begun formal sale discussions for the franchise.
The liquor giant, which owns RCB through their Indian subsidiary United Spirits, has engaged investment banks, including Citi, to facilitate the deal. The franchise is valued at approximately USD 2 billion, and early reports from Cricbuzz suggest that six interested parties have entered the race. While RCB’s local management is said to be resistant to the idea, Diageo’s UK headquarters seems intent on offloading the team as part of a broader strategic shift away from non-core assets.
IPL 2026: Indian heavyweights eyeing the RCB crown
1. Adar Poonawalla (Serum Institute of India)
According to Cricbuzz, Serum Institute CEO Adar Poonawalla has emerged as one of the leading names in the race to acquire RCB. Poonawalla recently took to social media platform X (formerly Twitter), stating that “RCB is a great team… at the right valuation,” hinting that he may be in talks with a U.S.-based private equity fund for a joint bid. The Poonawalla family has previously explored IPL team ownership, Adar’s father, Cyrus Poonawalla, had shown interest in 2010 when two new teams were introduced under Lalit Modi. With Adar’s vast business empire and global network, his entry could bring financial stability, innovation, and an ambitious long-term vision for the RCB brand.
2. Parth Jindal (JSW Group)
The JSW Group, spearheaded by Parth Jindal, is another high-profile contender, per the Cricbuzz report. However, regulatory challenges could complicate the bid, as JSW currently co-owns Delhi Capitals alongside the GMR Group (each holding 50% stakes). The BCCI’s cross-ownership regulations prohibit involvement in multiple IPL franchises, meaning JSW would reportedly need to exit the DC entirely to pursue RCB. If Jindal navigates that hurdle, JSW’s extensive sports portfolio, including Delhi Capitals (IPL) and Bengaluru FC (ISL), positions the group as a natural fit to take over one of India’s most iconic cricket franchises.
3. Adani Group
The Adani Group, led by Gautam Adani, has been long linked with IPL franchise ownership. As reported by Cricbuzz, Adani narrowly missed out on acquiring the Ahmedabad franchise in 2022, which was eventually awarded to the Gujarat Titans. Adani Sportsline already manages the Gujarat Giants in the Women’s Premier League (WPL) and operates teams in the UAE’s ILT20, demonstrating a strong foothold in global cricket operations. With unmatched financial resources and a robust sports management structure, Adani Group is considered one of the most credible bidders, fully capable of matching RCB’s USD 2 billion valuation.
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IPL 2026: Global bidders and domestic tycoons join the race
4. Delhi-Based Billionaire (Name undisclosed)
Cricbuzz has also highlighted the interest of a Delhi-based billionaire with multi-sector business interests spanning infrastructure, media, and finance. Although their identity remains undisclosed, sources suggest this industrialist has been eyeing IPL ownership for years. The addition of a politically influential and financially robust Delhi-based player could make the bidding landscape more competitive, introducing a mix of domestic wealth and strategic clout to the negotiation table.
5 & 6. Two U.S.-based private equity firms
As per Cricbuzz, two U.S.-based private equity firms are also exploring potential acquisitions or partnerships for the RCB deal. These firms are reportedly analyzing IPL’s booming financial ecosystem, particularly its media rights growth and expanding digital reach. The merged JioStar platform, with over 500 million subscribers, has reinforced the IPL’s global viewership base, making it an appealing investment opportunity for overseas funds. Analysts project that even a nominal ₹100 per month subscription model for IPL content could generate around ₹20,000 crore annually in digital revenue, excluding advertising income. This massive commercial upside explains the U.S. investors’ keen interest in a franchise like RCB, one of the most followed and marketable teams in global cricket.
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