IPL 2026: Adar Poonawalla in race to acquire RCB from Diageo for INR 17,753 crore

British spirits giant Diageo PLC has seemingly decided to sell the Royal Challengers Bengaluru (RCB). The Indian Premier League (IPL) franchise, which won its maiden title in June earlier this year, has the highest evaluation among all franchises.

Diageo to sell RCB

According to CNBC-TV18, Diageo doesn’t view RCB as one of its core business ventures. Perhaps the Bengaluru stampede, which led to 11 people’s deaths and left over 50 injured during RCB victory celebrations in and around the M Chinnaswamy Stadium, is the reason behind Diageo’s decision.

“RCB is an exciting business, but it is non-core for Diageo,” Praveen Someshwar, MD & CEO of Diageo India, told CNBC-TV18 earlier this month.

Reports had suggested that Diageo were looking to sell RCB at $2 billion (INR 17,753 crore approximately). But Diageo hasn’t confirmed or denied the potential figure of sales. “We don’t comment on market speculation,” a Diageo spokesperson told CNBC-TV18.

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Adar Poonawalla shows interest

IPL founder Lalit Modi had hinted at the potential sale yesterday. This has now been validated. As Modi pointed out, the global investment bank Citi has been appointed as transaction advisor.

Adar Poonawalla has emerged as one of the interested parties. The Chief Executive Officer (CEO) of Serum Institute of India doesn’t want a minority stake but wishes to buy RCB in its entirety. When enquired, Poonawalla refused to comment on the matter.

“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. 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,” Modi wrote on X.

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