The Royal Challengers Bengaluru (RCB) are at a critical juncture as Diageo has set March 31, 2026, as the deadline for final bids for its 65% controlling stake in the franchise. This decision marks a significant shift for RCB, which is considered one of the most valuable sports properties in the subcontinent, potentially the most popular team in the cash-rich Indian Premier League (IPL).
The sale of this stake could fetch up to $2 billion, a figure that underscores the franchise’s immense value and appeal. Currently, two parties are in the running 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 landscape highlights the high stakes involved in acquiring a team that has seen a remarkable 73% revenue surge following their title win in 2025.
Previously, interest in the franchise was shown by the Glazer family and Adar Poonawalla, but they have reportedly maxed out at $1.8 billion, indicating the fierce competition and the financial commitment required to secure ownership of RCB.
The IPL season is set to commence on March 28, 2026, with RCB playing their first match against Sunrisers Hyderabad on the same day. This timing adds urgency to the bidding process, as potential buyers aim to finalize their acquisitions before the season kicks off.
Diageo, which owns RCB through United Spirits, regards the franchise as non-core to its drinks interests, despite its role as a significant advertisement for the Royal Challenge Indian whisky brand. This decision to divest comes as the company reassesses its portfolio, opening the door for new ownership that could bring fresh perspectives and investments into the team.
As the deadline approaches, the landscape remains dynamic, with current binding bids ranging from $1.5 billion to $1.7 billion. The outcome of this bidding war will not only reshape the future of RCB but also impact the broader IPL ecosystem.
Details remain unconfirmed regarding the final bidders and their strategies, but the implications of this sale are profound. The potential for new leadership could invigorate the franchise, fostering a new era for RCB as they strive for IPL glory.
