The future of the Royal Challengers Bengaluru (RCB) franchise is poised for significant change as Diageo has set a deadline of March 31, 2026, for final bids on its 65% controlling stake. This sale could potentially fetch up to $2 billion, highlighting the franchise’s immense value within the Indian Premier League (IPL).

Currently owned by Diageo through United Spirits, RCB is regarded as one of the most valuable sports properties in the subcontinent. Following a title win in 2025, the franchise experienced a remarkable 73% surge in revenue, further enhancing its market appeal.

Two main parties are competing for the purchase: a consortium led by EQT and another led by Ranjan Pai, Kohlberg Kravis Roberts and Co. (KKR), and Temasek. Previously, the Glazer family and Adar Poonawalla expressed interest but reportedly maxed out their offers at $1.8 billion, which is below the expected valuation.

The IPL season is set to commence on March 28, 2026, with RCB scheduled to play their first match against Sunrisers Hyderabad on the same day. This timing adds urgency to the bidding process, as the new ownership could influence the team’s strategy and performance in the upcoming season.

Diageo’s decision to divest its stake stems from its view of the franchise as non-core to its primary interests in the beverage industry, despite its role as a significant advertisement for the Royal Challenge Indian whisky brand.

As the deadline approaches, the competitive landscape for RCB’s ownership continues to evolve. The current binding bids are reported to be between $1.5 billion and $1.7 billion, indicating strong interest but also a gap from the anticipated sale price.

RCB remains one of the most popular teams in the cash-rich IPL, and the outcome of this sale could have lasting implications for the franchise’s future direction and investment in player acquisitions.

Details remain unconfirmed regarding the exact terms of the bids and the final decision timeline, but the upcoming weeks are expected to bring clarity to this high-stakes negotiation.

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