Royal Challengers Bengaluru is up for sale just months after winning their maiden IPL title. Current owners Diageo have officially started the process and expect to finalize the deal by March 31, 2026.​

The Official Announcement

Diageo, through its Indian subsidiary United Spirits Ltd (USL), informed the Bombay Stock Exchange on November 5 about what they called a “Strategic Review of the Investment in Royal Challengers Sports Pvt. Ltd. (RCSPL)”. RCSPL is the wholly owned subsidiary that controls both RCB’s IPL and WPL franchises.​

The disclosure stated clearly that the process is expected to conclude by March 31, 2026. This timeline means a new owner could be in place before the 2026 IPL season begins.​

Why Diageo is Selling

Praveen Someshwar, Managing Director and CEO of United Spirits, explained the reasoning. “RCSPL has been a valuable and strategic asset for USL, however it’s non-core to our alcobev business,” he said. The company wants to focus on its main alcoholic beverage operations and streamline its India portfolio.​

Diageo has faced pressure from shareholders to concentrate only on core business areas. The sports franchise, despite its success, doesn’t fit into those plans. Reports suggest the sports business accounted for just 8.3 percent of the company’s total profit in the financial year ending March 31, 2025.​

The Valuation Target

Diageo reportedly discussed a valuation of around USD 2 billion with potential advisers back in June. At that price, it would set a benchmark for IPL franchise valuations, which are increasingly viewed as trophy assets.​

The IPL has evolved into an entertainment and advertising giant, now rivaling leagues like the NFL and English Premier League in commercial appeal.​

Who Might Buy RCB?

Several prominent business figures have shown interest. Adar Poonawalla, CEO of Serum Institute of India, fueled speculation in October by tweeting that “at the right valuation, @RCBTweets is a great team”.​

Other potential buyers include Nikhil Kamath, co-founder of Zerodha, and Ranjan Pai, chairman of the Manipal Education and Medical Group. Both are Bengaluru-based billionaires with strong local connections. Forbes estimates Kamath’s net worth at USD 2.5 billion and Pai’s at USD 2.8 billion.​

Reports also mention the Adani Group, JSW Group, and Ravi Jaipuria of Devyani International Group as interested parties.​

What This Means for Virat Kohli

The biggest question surrounding the sale concerns Virat Kohli, who has been RCB’s face since 2008. Kohli has repeatedly stated he will only leave the franchise when he retires.​

His contract is with the franchise itself, not with Diageo. This means a change in ownership shouldn’t affect his player status. However, new owners could bring different management and direction, which may or may not align with Kohli’s vision.​

Sale Timing and Team Building

The timing creates an interesting situation. IPL teams must finalise their retentions by November 15, 2025, with auctions following shortly after. The WPL auction is scheduled for November 27.​

This means any potential buyer will have to accept a squad handpicked by current owners Diageo. According to industry analysts, even if the sale process ends by March 31, the official change of guard might happen after the 2026 IPL season concludes, depending on negotiations.​

RCB’s Recent Success

The sale comes on the back of historic achievements. RCB won their first IPL title in 2025 after an 18-year wait. They also won the WPL in 2024, giving the franchise championships in both men’s and women’s cricket.​

Former RCB batter Mohammed Kaif believes the ownership change won’t affect the team’s winning formula. “The best thing about RCB from last time was how they performed in the auction. They appointed a new captain and his bonding with Virat Kohli was also good,” Kaif said.​

The Winning Template

Kaif highlighted RCB’s improved approach to team building. “Bowlers had more say in their title victory. Whether we talk of Krunal Pandya, Josh Hazlewood and Yash Dayal, Bhuvneshwar Kumar displayed his good form. So, RCB have now understood to spend as much money on bowlers as they do on batters,” he explained.​

The franchise now has a proven template—Virat Kohli batting at the top, Phil Salt as his opening partner, Tim David finishing, and a balanced bowling attack. Whoever buys RCB will inherit this winning structure along with star players like Kohli, Smriti Mandhana, and Josh Hazlewood.​

Historical Context

RCB was one of the original IPL franchises when the league started in 2008. Vijay Mallya initially owned the team, but his Kingfisher Airlines collapsed in 2012 after failing to pay creditors. Diageo eventually took over after buying Mallya’s United Spirits.​

Now, after finally ending their title drought, RCB is changing hands again—this time to owners who might be more focused on cricket rather than using it as a marketing vehicle for an alcoholic beverage business.

The next few months will reveal who takes control of one of IPL’s most valuable and popular franchises.