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Lalit Modi, the former chief of the Indian Premier League, confirmed to IANS on Saturday that the bid from the Glazer family has already reached USD 1.75 billion.

"I assume this is based on the current scenario of 74 games and not 94 games, which I believe will become the norm, as the IPL was originally conceived as a full home-and-away format. Secondly, this will solidify the Board of Control for Cricket in India’s own revenue, especially at a time when the board’s central revenues are under tremendous pressure — firstly due to its share of International Cricket Council revenue, which could realistically decline by 50–60 per cent, and secondly because bilateral rights revenue may also fall by at least 50 per cent.

“But the IPL will make up for all those downsides. The next IPL media rights cycle, which will be decided within the next year, is very likely to see the value at least double. I have zero doubts about that," Modi said.

“With cricket heading deeper into the World Cup cycle, the number of bilateral and ICC matches will inevitably come down due to increasing player workload and scheduling pressures. At the same time, the income generated from domestic leagues will encourage more players to prioritise those competitions. This trend is unavoidable and should make cricket boards around the world recognise the stark reality ahead.

“Under current market trends, the only board that stands to truly benefit is the BCCI. Indians love cricket — but above all, they love Indian cricket,” Modi added.

The nine parties have submitted non-binding bids ranging from USD 1 billion to USD 1.8 billion, indicating serious interest, the report by the State of Play claimed. The Glazers’ bid positioned them among the highest bidders for the franchise.

The report stated that the bids carry no obligation to complete a transaction at the stated price. RCB will use them to narrow the field to a shortlist by next week and then invite binding offers from the remaining parties.

Last month, pharma tycoon Adar Poonawalla said he would make a 'strong and competitive' bid for securing the ownership of RCB.

The report stated that the bids carry no obligation to complete a transaction at the stated price. RCB will use them to narrow the field to a shortlist by next week and then invite binding offers from the remaining parties.

London-based Diageo, the parent company of United Spirits Ltd, began efforts in November last year to sell the team, valued at around 105 million USD. The move was accelerated after a stampede during RCB's IPL victory celebrations outside the M Chinnaswamy Stadium in June 2025 killed 11 fans.