RCB to be sold? Adar Poonawala eyes $2 billion deal:Franchise owners Diageo eye record sale, Lalit Modi fuels speculation – Report

The defending champions of the Indian Premier League (IPL) could soon have new owners. Royal Challengers Bengaluru (RCB) could be sold to new management with Adar Poonawalla, who is the CEO of Serum Institute of India, interested in buying the franchise. RCB won their first-ever title last season under Rajat Patidar’s captaincy, but while celebrating their inaugural IPL victory, a stampede took place in Bengaluru outside the Chinnaswamy Stadium, wherein 11 people were killed. Reports from CNBC-TV18 claimed that RCB’s owners, global spirits major Diageo, has finally decided to put RCB on sale. Previously, the owners have denied reports of RCB’s ownership changing hands, but this time around, the majority owners have declined to comment on the matter. RCB’s owners want $2 billion for the team The brewer is reportedly seeking a record $2 billion for the team. If the sale goes through, RCB could well become one of the most valuable teams in the IPL. The report also claimed that Global investment bank Citi has been appointed as the transaction advisor. Diageo have reportedly refused to comment on the matter, while Adar Poonawalla has also not spoken about the matter. The owners of RCB have claimed that the franchise is an ‘exciting business’, but it is non-core for the majority stakeholders. Gujarat Titans were sold to Torrent Investments Pvt. Ltd Earlier, Gujarat Titans, the Ahmedabad-based franchise, were purchased by the Torrent Group. They bought a majority stake of 67% in the team from previous owners CVC Capitals. GT were valued at around ₹7,500 crore when the ownership change took place. Amidst the speculation, former IPL commissioner Lalit Modi has added more fuel to the fire. Lalit Modi claims RCB could be sold for record valuation “There have been a lot of rumours about the sale of an IPL franchise. 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 with its strong base of fans and great management, it could be the only team available as a whole,” Modi wrote on X. His post read further, “One of the big global funds or sovereign funds would desperately like to have them as part of their India strategy. This will definitely set a new record valuation and become the floor price for all IPL teams. I am sure Citi will do a great job auctioning the team.”