Punjab Newsline,Sports:
Diageo Initiates Sale Process as Multiple Big Names Enter the Race
Pharma industry leader Adar Poonawalla has announced plans to place a “strong and competitive” bid to acquire ownership of the Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB), the reigning champions of the league. Poonawalla, the Chief Executive Officer of Pune-based vaccine manufacturer Serum Institute of India (SII) and Chairman of Poonawalla Fincorp, made the announcement through a post on his official handle on social media platform X on Thursday.
In his post, Poonawalla described RCB as one of the best teams in the IPL and said that over the next few months, his group would actively work towards submitting a robust and competitive proposal to secure the franchise’s ownership. His statement has added significant momentum to the ongoing process surrounding the sale of the Bengaluru-based team.
London-headquartered Diageo, the parent company of United Spirits Ltd (USL), began efforts to sell RCB in November last year. According to reports, the franchise is currently valued at approximately USD 105 million. The process reportedly gathered pace following a tragic incident during RCB’s IPL title celebrations in June 2025, when a stampede outside the M. Chinnaswamy Stadium in Bengaluru resulted in the death of 11 fans. The incident brought increased scrutiny on the franchise’s operations and ownership structure.
Commenting on the decision, United Spirits Ltd Managing Director and CEO Praveen Someshwar stated that Royal Challengers Sports Private Limited (RCSPL) has been a valuable and strategic asset for the company. However, he noted that the franchise is non-core to United Spirits’ primary alcohol business. He added that the move aligns with Diageo’s and USL’s ongoing review of their India enterprise portfolio to ensure long-term value creation for stakeholders, while also keeping the best interests of RCSPL in mind.
Meanwhile, RCB is also considering changes related to its home venues for the 2026 IPL season. The franchise is reportedly evaluating options to shift some or all of its home matches away from Bengaluru. The DY Patil Stadium in Navi Mumbai and the Shaheed Veer Narayan Singh International Cricket Stadium in Raipur are among the venues being discussed as potential hosts for RCB’s home fixtures.
The Karnataka State Cricket Association (KSCA), however, has urged the franchise to continue using the M. Chinnaswamy Stadium as its home ground for IPL matches. Apart from Adar Poonawalla, film production house Hombale Films, owned by Vijay Kiragandur, is also believed to be in contention to acquire the franchise, although no official statement has been issued by the company so far.
RCB is one of the original IPL franchises, having been part of the league since its inception in 2008. Over the years, the team has been associated with legendary cricketers such as Virat Kohli, Anil Kumble and AB de Villiers, and its recent title win has further enhanced its profile ahead of the potential ownership change.