The long-speculated sale of Royal Challengers Bengaluru (RCB) appears to have taken a decisive step forward.
Diageo, the current owner of the IPL franchise, has reportedly initiated the sale process by circulating information memorandums to interested parties, signalling that one of the league’s most valuable teams is officially on the market.
According to a report by Sportico, Diageo, acting via its Indian arm United Spirits, has sent out the books related to RCB to potential buyers.
RCB Sale Process Enters First Phase
The development was confirmed by a source with direct knowledge of the matter, suggesting that groundwork for the transaction is now firmly in place.
The “going out of books” refers to the distribution of a Confidential Information Memorandum (CIM). This document serves as the cornerstone of any sale process and is used to provide prospective buyers with a detailed overview of the business.
A CIM usually runs between 30 and 150 pages and contains comprehensive information about financial performance, commercial rights, sponsorship revenues, brand strength and future growth potential.
RCB Valuation & Market Interest
For RCB, this document would highlight the franchise’s standing as one of the IPL’s most recognisable and commercially successful teams.
Interest in the franchise, reportedly valued at close to $2 billion, has already emerged from prominent quarters.
Serum Institute of India CEO Adar Poonawalla previously stated on X that he would place a “strong and competitive bid” for RCB, although it remains uncertain whether a formal offer has been lodged.
The Sportico report further states that United Spirits has appointed Citigroup as its advisor for the transaction.
The process is expected to attract private equity firms, institutional investors and high-net-worth individuals. As per reports, the sale is likely to be concluded by the end of March, ahead of the start of IPL 2026.
With financials now seemingly in circulation, RCB’s sale looks to have firmly entered a critical phase, setting the stage for one of the most significant ownership changes in IPL history.
