RCB sale: Adar Poonawala confirms interest in IPL franchise ‘at the right valuation’

Owner and Chief Executive Officer (CEO) of Serum Institute of India, Adar Poonawalla, has confirmed his interest in acquiring the Royal Challengers Bengaluru (RCB).

Back in June, reports had emerged that British spirits giant Diageo PLC, owners of the RCB, are ready to sell the Indian Premier League (IPL) franchise off. Then yesterday, we heard that Poonawala was interested in getting complete control of the franchise.

Diageo don’t view RCB as a core business entity, and after the franchise won the IPL 2025 trophy, they perhaps think it’s the right time to sell it off. “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.

Poonawala all-in to acquire RCB

Initially, it was reported that Diageo was looking to sell RCB at $2 billion (INR 17,762 crore approximately). But they have refused to comment on it. “We don’t comment on market speculation,” a Diageo spokesperson told CNBC-TV18.

Poonawala had refused to comment on the matter yesterday when the news emerged. But now, he has posted a cryptic message on social media regarding the evaluation of the franchise. “At the right valuation, @RCBTweets is a great team,” Poonawala wrote, confirming his interest in acquiring RCB.

Citibank has been appointed as the transaction advisor for the upcoming deal between Diageo and the other party. At this point, it seems like the ‘price’ is the talking point. If Diageo and Poonawala see eye to eye on the valuation, the deal might just go ahead before the IPL 2026.

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