Adar Poonawalla hints at acquiring stake in Royal Challengers Bengaluru

The CEO of Serum Institute of India, Adar Poonawalla, has hinted at the possibility of acquiring a stake in the Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB). On Wednesday, October 1, Poonawalla expressed his interest in investing in the franchise, which is currently owned by United Spirits, the Diageo-controlled company that owns RCB.

“At the right valuation, @RCBTweets is a great team…,” wrote Poonawalla on X.

Under the leadership of Rajat Patidar, RCB clinched its maiden title by defeating Punjab Kings (PBKS) in the final of the 18th edition of the cash-rich league. However, on June 4, a stampede outside M. Chinnaswamy Stadium resulted in 11 deaths and left over 50 people injured.

A massive crowd of nearly three lakh people had gathered to witness the victory celebrations of RCB’s first IPL trophy. Following the tragic incident, the Central Administrative Tribunal (CAT) held RCB responsible, and speculation about a potential sale of the franchise persisted.

Poonawalla’s comments come after IPL’s first-ever commissioner, Lalit Modi, added fuel to the speculation on Tuesday. Modi stated that there could be no better investment at the moment than purchasing RCB, emphasizing that significant global funds or sovereign wealth funds would be eager to include the franchise in their investment and India strategies.

“There have been a lot of rumour about the sale of an IPL franchise, specifically RCB - well in the past they have been denied. But it seems the owners have finally decided to take it off their balance sheet and sell it. I am sure having won the IPL last season and also with its strong base of fans and off course the Team itself and a great management team - it could be the only Team which would be available as a whole as an ipl franchise,” wrote Modi on X.

“I am sure one of the Big Global funds or a Sovereign Fund would desperately like to have them as part of their investment strategy and India strategy. There can be no better investment opportunity I could think of then this one. Good luck to whoever can get their hands on it.  It definitely will set a new record valuation which will just go to show that IPL is the not only the fastest growing Global Sporting league but also the most valuable. That new price that #rcb sets will become the new floor price for all teams. Good luck to all. I am sure Citi Bank will do a great job auctioning the team to prospective buyers,” it added.

The most recent ownership change in the IPL saw the Torrent Group, a diversified conglomerate with interests in the healthcare and energy sectors, acquire a two-third's majority stake in the Gujarat Titans (GT). As part of the deal, Irelia retained a significant minority stake of 33% in the franchise.