Diageo, the parent company of United Spirits, has officially initiated a “Strategic Review” for the sale of the Royal Challengers Bengaluru (RCB) franchise, just six months after the team secured their first-ever IPL title.
November 6, 2025: The ownership of the newly crowned Indian Premier League (IPL) champions, Royal Challengers Bengaluru (RCB), is set to change hands. Diageo, the multinational beverage giant and parent company of United Spirits Ltd. (USL), has formally announced that it is putting the high-value cricket franchise up for sale.
In an exchange filing on Wednesday, Diageo’s Indian subsidiary, United Spirits Ltd. (USL), announced the initiation of a “Strategic Review” of its investment in its wholly-owned subsidiary, Royal Challengers Sports Pvt Ltd (RCSPL). RCSPL owns both the IPL-winning Men’s team (2025 champions) and the Women’s Premier League (WPL) team (2024 champions).
The company expects the sale process to be completed by March 31, 2026.
Praveen Someshwar, Managing Director & CEO of United Spirits, confirmed that while RCB is considered a “valuable and strategic asset,” it is ultimately non-core to the company’s main alcobev business. For the financial year ending March 31, 2025, Diageo’s sports business accounted for 8.3% of the company’s total profit.
The announcement comes amidst high valuation expectations for the franchise. Media reports indicate that Diageo is seeking a valuation of around $2 billion for Royal Challengers Bengaluru. This figure would rank the team among the highest-valued franchises in the IPL, a testament to its massive fanbase and the presence of star players like Virat Kohli, Smriti Mandhana, and others.
Speculation regarding potential buyers has immediately intensified, with reports linking Adar Poonawalla, the CEO of Serum Institute of India, to a possible acquisition. Poonawalla had previously boosted speculation by stating he was interested in buying RCB “at the right valuation.”
With the IPL mini-auction scheduled soon, both the current management and prospective buyers are expected to expedite the transaction to ensure the team has a clear direction well ahead of the 2026 campaign.
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