The sale of Royal Challengers Bengaluru (RCB) enters its final phase. In a staggering development, the reigning IPL 2025 champions are reportedly commanding a valuation of $2 billion (approx. ₹16,700 crore), a figure that would make them not just the most expensive franchise in IPL history, but one of the most valuable sports properties on the planet.
The $2 Billion Duel: EQT vs. The Global Consortium
According to a report by The Indian Express, the race for the Bengaluru-based franchise has narrowed down to two primary contenders after a series of high-profile withdrawals.
The first frontrunner is the Swedish private equity giant EQT, which is reportedly prepared to breach the $2 billion mark. Some industry insiders suggest EQT may be forming a combined bid with Premji Invest. They are pitted against a powerhouse consortium led by Ranjan Pai of the Manipal Group, alongside US private equity titan Kohlberg Kravis Roberts & Co (KKR) and Singapore’s sovereign wealth fund Temasek.
Manchester United and Adar Poonawalla Pull the Plug
The race was previously crowded with billionaire suitors, but the final stretch has seen significant exits. Avram Glazer, owner of Manchester United and head of Lancer Capitals, has reportedly pulled the plug on the deal. While the Glazers had previously placed a non-binding offer of $1.8 billion, they have opted not to proceed as the valuation climbed further.
Similarly, Adar Poonawalla, CEO of the Serum Institute of India, has also withdrawn from the bidding process. Despite earlier public interest shared on social media, the record-breaking price tag has narrowed the field to institutional investment heavyweights.
What Happens Next?
The sale process is being managed by the Raine Group, the same firm responsible for the multi-billion dollar sales of Chelsea FC and Manchester United. Current owners Diageo have indicated in SEBI filings that the process should be finalized by March 31, 2026.
Fans can expect the current management to remain in control for the IPL 2026 season, with the new owners officially taking the reins ahead of the 2027 campaign.