Royal Challengers Bengaluru, the reigning champions of the Indian Premier League, have suddenly become the most sought-after franchise in the cricketing market. With the team’s valuation at an all-time high, as many as six major companies—both Indian and international—are reportedly exploring the possibility of acquiring the brand. Their interest, however, hinges on whether Diageo Great Britain, the current owners, will actually proceed with the sale. Interestingly, several Indian stakeholders remain unsure if the global beverage giant is genuinely ready to let go of the franchise.
Despite the widespread buzz around a potential sale, insiders believe Diageo may still execute a last-minute reversal, especially since some board members are hesitant about holding on to an IPL team—an asset far removed from the company’s core business model. Yet, the interest from buyers is real and rapidly growing.
According to Cricbuzz, several Indian and American groups have already initiated informal conversations with Diageo’s senior management. Among them are some of the most influential names in Indian industry, including Serum Institute’s Adar Poonawalla and JSW Group’s Parth Jindal. The Adani Group, too, is weighing its options, while a well-known Delhi-based industrialist with diverse business interests has also shown serious intent.
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Alongside these four heavyweight names, two private equity firms from the United States are reportedly evaluating the financial feasibility of a takeover. Another notable figure in the mix is Ravi Jaipuria, the chairperson of Varun Beverages—one of PepsiCo’s largest bottling partners globally and the force behind Devyani International. His interest further underlines the scale of competition for the franchise.
At the right valuation, @RCBTweets is a great team…
— Adar Poonawalla (@adarpoonawalla) October 1, 2025
The Poonawalla family has been eyeing IPL ownership for over a decade. Adar’s father, Cyrus Poonawalla, had even submitted a bid during the league’s 2010 expansion, though the Pune and Kochi franchises eventually went to Sahara and Rendezvous Sports, both of which dissolved within a few years. Recently, Adar reignited speculation with a bold post on X, writing, “At the right valuation, @RCBTweets is a great team.”
Sources suggest Poonawalla could partner with a US-based investment firm for a joint bid. Meanwhile, the Jindal-led JSW Group would have to divest its existing 50% stake in the Delhi Capitals before making any official move for Bengaluru. The Adani Group, who narrowly missed securing the Ahmedabad franchise in 2021, remains keen as well.
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Diageo has now engaged two private banks—including Citi—to advise on the evaluation process. Yet, with Diageo India reportedly opposing the sale, the final outcome remains far from certain. Multiple Diageo officials have even travelled to the UK as internal discussions intensify.
Whether Royal Challengers Bengaluru actually goes under the hammer—or remains under Diageo—could soon become one of the biggest business stories in Indian cricket.
