The Royal Challengers Bengaluru (RCB) franchise is officially on the market. In a major corporate development, Diageo - the UK-based parent company of United Spirits Ltd (USL) - confirmed that it has begun the process of selling the popular IPL and WPL franchise. The company has also set a tentative deadline of March 31, 2026, to complete the sale.
In an official communication submitted to the Bombay Stock Exchange (BSE) on Wednesday, November 5, Diageo described the move as a "Strategic Review of the Investment in Royal Challengers Sports Pvt Ltd (RCSPL)," which is a wholly owned subsidiary of USL.
The filing stated: "The USL is initiating a strategic review of the investment in its wholly owned subsidiary, RCSPL. RCSPL's business comprises ownership
of the Royal Challengers Bengaluru (RCB) franchise team that participate in the men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually. "
The company further clarified that the disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement). Diageo and USL added that "It is expected the process will conclude by March 31, 2026. "
Speaking on the decision, Praveen Someswar, Managing Director and CEO of USL, said: "RCSPL has been a valuable and strategic asset for USL. However, it is non-core to our alcobev business. This step reinforces USL's and Diageo's commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL's best interest in mind. "
Industry experts believe the phrasing of the disclosure indicates Diageo may be exploring either a full or partial divestment. The inclusion of a specific completion date suggests that discussions with potential buyers could already be underway.
As per reports from Cricbuzz, several major business groups have expressed interest in acquiring RCB, including a US-based private investment firm, the Adani Group, JSW Group, Adar Poonawalla's Serum Institute of India, and Ravi Jaipuria's Devyani International.
Speculation about RCB's sale had been circulating since the tragic June 4 stampede outside Bengaluru's Chinnaswamy Stadium, which claimed 11 lives. Under shareholder pressure to exit non-core assets, Diageo has reportedly engaged a merchant bank to manage the transaction - marking the beginning of what could be one of Indian cricket's biggest franchise ownership changes.
