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Following their historic maiden IPL title in 2025, Royal Challengers Bengaluru (RCB) is officially on the auction block. Diageo, the global spirits giant that owns the franchise through United Spirits Limited (USL), has initiated a strategic review to divest its stake, citing the team as a "non-core asset" to its primary liquor business.

As the defending champions prepare for the 2026 season, a high-stakes bidding war is brewing among India’s biggest conglomerates and global investors.

The $2 Billion Race: Who Wants RCB?

Despite decades of being "bridesmaids," RCB’s 2025 triumph under captain Rajat Patidar has skyrocketed its valuation. Diageo is reportedly seeking a benchmark-setting $2 billion (approx. ₹17,000 crore) for the franchise.

The Frontrunners and Interested Parties:

• Adar Poonawalla (Serum Institute of India): On January 22, the CEO of the world’s largest vaccine maker confirmed on X (formerly Twitter) that he will submit a "STRONG and COMPETITIVE" bid, calling RCB one of the IPL's best teams.

• Adani Group: After narrowly missing out on the Ahmedabad franchise in 2022, Gautam Adani’s conglomerate is expected to be a major player in this race.

• Parth Jindal (JSW Group): While JSW currently co-owns Delhi Capitals, reports suggest they are interested in RCB. However, IPL rules would require them to exit their current investment entirely before acquiring a new team.

• US-Based Private Equity Firms: According to Cricbuzz, at least two major American investment firms are eyeing a piece of the IPL’s most valuable brand.

• Sanjay Govil: The Indian-American businessman, who owns Washington Freedom in MLC, has also been linked as a potential suitor.

The "Conman" Curveball

In a bizarre development on January 30, jailed conman Sukesh Chandrashekhar reportedly wrote to Diageo offering an all-cash $1 billion bid through his firm, LS Holdings.

Claiming RCB as his "home team," he called the offer a potential "gift" for his partner. However, given his ongoing legal troubles, industry experts dismiss this as a publicity stunt.

Why Is Diageo Selling Now?

The timing is purely strategic. By selling immediately after a title win, Diageo maximizes the "winner's premium." The company aims to conclude the sale process by March 31, 2026, just before the new season begins. While the ownership might change, experts believe the iconic brand identity, including the name, logo, and association with Virat Kohli, will remain untouched.