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RCB is nearing a sale worth close to USD 2 billion, with EQT and a consortium involving Ranjan Pai, Kohlberg Kravis Roberts & Co, and Temasek in the lead.
Royal Challengers Bengaluru are the defending champions. (PTI Photo)
The Royal Challengers Bengaluru (RCB) franchise is nearing a sale worth close to USD 2 billion (approx INR 185 lakh crore). According to The Indian Express and The State of Play, the sale is now a two-horse race between Swedish private equity firm EQT and a consortium involving Ranjan Pai of Manipal Hospitals, US private equity firm Kohlberg Kravis Roberts & Co and Singapore-based investment group Temasek.
Three key parties, including Manchester United co-owners the Glazer family and Serum Institute’s CEO Adar Poonawalla, are no longer vying for the Bengaluru-based franchise.
The reports said that while RCB’s owners, Diageo’s United Spirits, have set the price at USD 2 billion, it might not be matched because IPL media rights are unlikely to get a big bump. But interestingly, the Glazer family, who previously made a non-binding bid of $1.8 billion, didn’t submit one in the final round, which could mean that another bidder is ready to match or exceed that valuation.
The process is expected to take around 45–90 days, after which RCB will need to formally inform the Board of Control for Cricket in India, a mandatory step for ownership transfer.
Twist in Rajasthan Royals sale
Meanwhile, Money Control is reporting that the promoter family of steel giant ArcelorMittal, led by CEO Aditya Mittal, is exploring a potential buyout of Rajasthan Royals, adding a fresh twist to the franchise’s ongoing stake sale.
The report cited sources to claim the Mittal family is keen to expand its presence in global sports, having recently invested in the Boston Celtics as part of a consortium. The Royals opportunity is seen as a valuable Indian asset, aligning with their growing interest in the sector.
At least four parties have reportedly submitted binding bids before the March 17 deadline, including a consortium involving the Aditya Birla Group and investor David Blitzer. However, it seems unclear whether the Mittals will bid independently or with partners.
The franchise, majority-owned by Emerging Media Ventures, is expected to command a valuation exceeding $1 billion. Other potential bidders include investors backed by global funds and Indian corporates, highlighting strong demand for IPL team ownership.
March 17, 2026, 22:51 IST
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