Adar Poonawalla, owner of the vaccine manufacturer Serum Institute, announced on Thursday his intention to submit a strong and competitive bid for the Bengaluru-based Indian Premier League (IPL) team, Royal Challengers Bangalore (RCB).
Poonawalla described RCB as one of the best teams in the IPL and stated that he would be putting in a bid over the next few months.
The billionaire has been assessing the deal, and discussions have been ongoing. However, Poonawalla noted that the valuation expectations for RCB are quite high. Last October, he expressed interest in the RCB team, stating that “at the right valuation, RCB is a great team.”
Other parties interested in the bid
Poonawalla is among the front-runners alongside other interested parties, including Zerodha’s Nikhil Kamat, Manipal Group’s Ranjan Pai, and the JSW and Adani groups.
United Spirits, the parent company of RCB through Diageo Plc, has initiated a strategic review of its investment in Royal Challengers Sports Private Limited (RCSPL), a wholly-owned subsidiary of United Spirits. RCSPL manages the Royal Challengers Bengaluru (RCB) franchise in both the Men’s IPL and Women’s Premier League (WPL).
United Spirits expects this review process to conclude by March 31, 2026. Praveen Someshwar, managing director and CEO of United Spirits, stated that RCSPL has been a valuable strategic asset but is non-core to their alcoholic beverage business.
This review aligns with USL’s and Diageo’s commitment to continuously assess their India enterprise portfolio to ensure long-term value for all stakeholders while considering RCSPL’s best interests.
Proposed sale of RCB
Former IPL commissioner Lalit Modi tweeted about the proposed sale of the RCB franchise last year. He pointed out that with RCB winning the IPL last season and possessing a robust fan base, strong management, and a talented team, the franchise stands out as a unique investment opportunity likely to attract interest from major global funds or sovereign wealth funds.
“I believe this will set a new record valuation, further highlighting the IPL as the fastest-growing global sports league and the most valuable. The new price set by RCB will establish a new baseline for all teams. Good luck to whoever manages to acquire it. I’m certain that #Citibank will effectively handle the auction for prospective buyers,” he said.
As of 2025, Royal Challengers Bangalore has been valued at $269 million, according to Houlihan Lokey’s IPL Brand Valuation Study. RCB ranks as the top team in the league, surpassing the Mumbai Indians, valued at $242 million, and the Chennai Super Kings, valued at $235 million.
The total brand value of the IPL was assessed at $3.9 billion in 2025, reflecting a 13.8% increase from 2024, while the overall IPL business is valued at $18.5 billion, showing a 12.9% year-on-year growth.
Originally owned by Vijay Mallya, RCB came under Diageo’s control in 2016 after the acquisition of United Spirits. The franchise has long been deemed one of the league’s most attractive teams due to its strong fan loyalty, substantial social media following, and association with marquee players.
Industry observers suggest that a sale, if undertaken, could set a benchmark floor price for future IPL franchise deals. The brand report highlights RCB’s historic IPL championship win in 2025, which ended a 17-year title drought and marked one of the league’s most celebrated triumphs.