The Indian Premier League (IPL) could soon witness one of its biggest franchise shake-ups, as global spirits giant Diageo has reportedly begun the process of selling its stake in Royal Challengers Bangalore (RCB). According to sources quoted by CNBC-TV18, the company is seeking a valuation of around $2 billion, a figure that underlines both the commercial strength of the league and RCB’s massive brand value.

Among those showing interest is Serum Institute CEO Adar Poonawalla, who is reportedly one of the frontrunners in the race. Several other potential buyers are also believed to be evaluating bids, although they prefer to acquire the entire stake rather than a partial share, which could expedite negotiations. To guide the process, Diageo has appointed Citi as its transaction advisor.

When approached, both Diageo and Adar Poonawalla declined to comment on the speculation. However, Diageo India’s MD & CEO, Praveen Someshwar, had earlier admitted that while RCB is an “exciting business,” it remains a non-core asset for the company—a clear indication that the sale was always on the cards.

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This development comes at a time when the IPL ecosystem has already seen another landmark deal. Earlier this month, Torrent Group, via its investment arm, signed an agreement to acquire a 67% majority stake in Gujarat Titans (GT) from CVC Capital’s Irelia Company, in a deal reportedly valued at ₹7,500 crore. CVC will continue to hold the remaining 33%.

Adar Poonawalla enters the race to acquire Royal Challengers Bangalore, marking a strategic step in his diversification drive beyond vaccines and finance, with growing interests in sports and entertainment. #RCB@Vishwanath4389 with details👇 pic.twitter.com/55KwLXBKCf

— NDTV Profit (@NDTVProfitIndia) September 30, 2025

Adding to the buzz, IPL’s first commissioner Lalit Modi commented on social media, noting that the sale of a marquee franchise like RCB could “set a new record valuation” and act as a benchmark for future IPL franchise sales. He suggested that global funds and sovereign investors would view the acquisition as a strategic entry into the Indian market, given IPL’s unprecedented growth.

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If the RCB sale materialises, it could not only redefine franchise valuations but also reaffirm the IPL’s position as the fastest-growing and most valuable cricket league in the world. For fans, it marks yet another chapter in the league’s transformation from a cricketing spectacle to a multi-billion-dollar sporting powerhouse.