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It’s official — Royal Challengers Bengaluru (RCB) has been put up for sale. The announcement was made by Diageo, the UK-based liquor giant that owns the IPL and WPL teams through its Indian subsidiary, United Spirits Ltd (USL). In a disclosure to the Bombay Stock Exchange (BSE) on Wednesday, Diageo announced that it has initiated a “strategic review” of its investment in Royal Challengers Sports Pvt. Ltd. (RCSPL) — the company that owns the RCB franchise teams participating in both the Indian Premier League (IPL) and the Women’s Premier League (WPL). The filing, made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, stated that the review process is expected to conclude by March 31, 2026. ‘RCB is a valuable asset, but non-core to our business’ Commenting on the development, Praveen Someswar, Managing Director and CEO of USL, said: “RCSPL has been a valuable and strategic asset for USL. However, it is non-core to our alcobev business. This step reinforces USL’s and Diageo’s commitment to continue reviewing their India enterprise portfolio to enable sustained delivery of long-term value to all stakeholders, while keeping RCSPL’s best interests in mind.” Industry analysts interpret the move as Diageo’s intent to exit from its non-core sports holdings, either through a complete or partial sale of its stake in RCSPL. High-profile buyers in the fray According to reports, several major business groups and investors have shown interest in acquiring the RCB franchise. Potential suitors include a US-based private investment firm, the Adani Group, the JSW Group (Jindals), Adar Poonawalla of Serum Institute of India, and Ravi Jaipuria of Devyani International Group. The sale process is reportedly being overseen by a merchant bank engaged by Diageo to facilitate negotiations and due diligence. Background: Shareholder pressure and recent controversies The move comes amid mounting shareholder pressure on Diageo and USL to divest from non-core assets. Talk of a potential sale intensified following the June 4 stampede outside Bengaluru’s Chinnaswamy Stadium, which claimed 11 lives and injured several others, further placing RCB’s management under scrutiny. With the March 2026 timeline now publicly declared, sources familiar with the matter suggest Diageo may already be in advanced discussions with interested buyers.
