RCB Put Up for Sale as Diageo Launches Strategic Review, New Owner Expected by March 2026

Royal Challengers Bengaluru (RCB), one of the most prominent franchises in the Indian Premier League, is officially up for sale after its owner Diageo confirmed the decision to initiate a complete strategic review of its cricket operations. The UK-based beverage giant announced the move through a disclosure to the Bombay Stock Exchange on Wednesday, describing it as a “Strategic Review of the Investment in Royal Challengers Sports Pvt. Ltd.,” the company that owns both the men’s and women’s RCB teams. United Spirits Ltd. (USL), Diageo’s Indian subsidiary, stated that the review process aims to determine the future of its investment in Royal Challengers Sports and is expected to conclude by March 31, 2026. The company said the move aligns with its broader plan to streamline operations and focus on its core alcoholic beverages business. USL’s Managing Director and CEO, Praveen Someswar, said that while RCB has been a “valuable and strategic asset,” it remains outside the company’s primary business interests. “This step reinforces our commitment to deliver long-term value for stakeholders while ensuring the best interests of RCSPL,” he said in the statement. The disclosure, filed under SEBI’s Listing Obligations and Disclosure Requirements, leaves room for interpretation, suggesting Diageo could either sell its entire stake or consider partial divestment. Industry sources say the specific mention of a March 2026 deadline signals that discussions with potential buyers may already be at an advanced stage. Several entities, including a US-based investment group, the Adani Group, the JSW Group, Adar Poonawalla of the Serum Institute of India, and Ravi Jaipuria’s Devyani International Group, have reportedly shown interest in acquiring the franchise. Speculation over RCB’s future ownership has circulated since the tragic stampede outside Bengaluru’s M. Chinnaswamy Stadium in June, which killed 11 people and prompted calls for greater scrutiny of the team’s management and infrastructure. Shareholder pressure has also intensified on Diageo to exit non-core ventures, leading to the appointment of a merchant bank to oversee the sale process. If completed within the announced timeframe, RCB’s ownership transfer would mark one of the most high-profile franchise transactions in IPL history, potentially reshaping the financial landscape of the league ahead of the 2026 season.