Adani Group Enters The Race To Buy Royal Challengers Bengaluru

DC’s JSW Group and Adani Group reportedly eye Royal Challengers Bengaluru (RCB) franchise. The sale of the $2 Billion-valued team could trigger a massive IPL ownership shake-up.

October 17, 2025: The ownership of the Indian Premier League (IPL) powerhouse, Royal Challengers Bengaluru (RCB), is potentially up for a massive change, with its parent company, Diageo Great Britain, reportedly exploring a sale that has attracted interest from as many as six high-profile parties.

The current owners are said to be seeking a staggering $2 billion valuation for the franchise, which was recently rated the most valuable brand among all 10 IPL teams in the Houlihan Lokey’s IPL Valuation Study 2025.

Big Names in the Fray

A report in Cricbuzz indicates that major Indian corporate entities, including the Adani Group, JSW Group, and Serum Institute of India CEO Adar Poonawalla, have held preliminary conversations with Diageo regarding a potential acquisition. The interest is not limited to India, as two private American-based equity firms are also reportedly mulling over a bid.

Adar Poonawalla has openly fuelled speculation, taking to X (formerly Twitter) earlier this month to write, “At the right valuation, @RCBTweets is a great team…” This marks the second time the Poonawalla family has shown interest in an IPL team, having previously purchased the Invitation to Tender (ITT) for franchise expansion in 2010.

The Adani Group is a familiar bidder in the IPL space, having narrowly missed out on the Ahmedabad-based franchise bid in 2022 to CVC Capital Partners.

Internal Resistance and JSW’s Dilemma

Despite the intense external interest, the sale is not a forgone conclusion. Sources suggest that Diageo Great Britain might make a sudden U-turn on its decision to offload the franchise. This is because its Indian arm, which holds the team, is reportedly not in favor of the sale and is attempting to convince the parent company to retain ownership.

Meanwhile, should JSW Group co-owner Parth Jindal pursue serious interest in acquiring RCB, he would be required to exit his current stake in Delhi Capitals (DC). JSW Sports holds a 50 per cent ownership in DC alongside the GMR Group, with a rotational management agreement in place.

The potential sale of one of the league’s most celebrated and passionately supported franchises, despite their mixed on-field history, is expected to set a new benchmark for IPL team valuations.