RCB Sale Nears $2B: Who Will Own IPL’s Defending Champs?

Royal Challengers Bengaluru (RCB) , the defending champions of the IPL and a subsidiary of Diageo , has reached the final stage of its sale , with binding bids reportedly around $2 billion . The sale process, initiated in November 2025 to allow Diageo to focus on its core business , has attracted significant attention from high-profile investors.

After the submission deadline on Monday , only two bidders remain in the race. The first is EQT partnering with Premji Invest , the investment firm associated with Azim Premji . The second is a consortium led by Dr. Ranjan Pai , founder of Manipal Hospitals , joined by KKR and Temasek . Both groups are now in exclusive negotiations , with due diligence expected to follow shortly.

Several previously interested parties, including the Glazer family of Manchester United and Adar Poonawalla of the Serum Institute, stepped back , leaving the current frontrunners.

RCB’s brand value , reportedly at $269 million , has been significantly strengthened by their first IPL title in 2025 , when they defeated Punjab Kings in a memorable final. The franchise remains one of the most valuable and recognizable IPL brands , making it a highly coveted investment.

The next steps in the sale involve due diligence and approval from the Board of Control for Cricket in India (BCCI) . If completed smoothly, the ownership transfer could be finalised ahead of IPL 2027 , marking a historic transaction in Indian cricket .

With a combination of strategic investors, record valuations, and IPL prestige , the RCB sale highlights the increasing commercialisation and global appeal of the league , reflecting the growing financial footprint of Indian sports franchises .