Jailed conman Sukesh Chandrashekar bids USD 1 billion to buy RCB

Royal Challengers Bengaluru has received an interesting offer, as jailed conman Sukesh Chandrashekhar has reportedly made a jaw-dropping offer to acquire one of the Indian Premier League’s most sought after franchises. 

Chandrashekhar, who is currently in jail for multiple charges, has written to RCB’s promoter company Diageo through his firm LS Holdings, proposing a staggering USD 1 billion (around ₹8,300 crore) all-cash bid to take over ownership of the franchise.

In his letter, he claimed the offer

was higher and more attractive than bids from prominent industrialists and suggested that LS Holdings was ready to complete the payment within 48 hours without any third-party funding.

What makes this saga even more interesting is the personal angle attached to the proposal, as Sukesh reportedly described RCB as his home team and said that acquiring the franchise would allow him to gift it to Bollywood actress Jacqueline Fernandez, whom he referenced in the letter. The RCB franchise is already the subject of active sale discussions by Diageo.

Manchester United owners join billion-dollar race to buy RCB

Meanwhile, Manchester United co-owners Avram Glazer and Lancer Capital are among the bidders vying to acquire RCB. According to reports, at least eight investor groups have been shortlisted to bid for RCB, whose men’s and women’s teams are the reigning champions of the IPL and Women’s Premier League.

The estimated bid range for the franchise is believed to be between $1.2 billion and $1.8 billion, showring the booming global valuation of IPL clubs. Glazer’s Lancer Capital, already owners of Manchester United, have entered the running alongside prominent Indian and international bidders, including the Manipal Group, Adar Poonawalla, Times Group amongst others.

If successful, the Glazer family’s entry into IPL ownership would mark a significant connection between two of the biggest sporting clubs, RCB and Manchester United.