IPL 2026 : The future ownership of Royal Challengers Bengaluru (RCB) has become one of the most talked-about developments in the sports business world. The conversation intensified after United Spirits Limited, the Indian arm of Diageo, announced in November 2025 that it would conduct a strategic review of the franchise.
Although RCB remains a valuable sporting asset, the company reportedly considers it outside its core alcohol business. As part of this review, the management began exploring options that could include selling a significant stake or even transferring ownership.
The process is expected to move quickly, with March 16 set as the key deadline for bids and the overall review targeted for completion by March 31, 2026.
EQT Group Emerges as a Strong Contender
Among the interested parties, Swedish private equity giant EQT Group has emerged as one of the most serious bidders. Reports suggest the firm is preparing a binding offer in the range of $2 billion to $2.1 billion, which translates to roughly ₹17,500 crore.
If the deal is finalized around this valuation, RCB would rank among the most valuable sports franchises globally, underlining the massive financial growth of the Indian Premier League.
Multiple High-Profile Investors in the Mix
EQT is not the only player showing interest. Avram Glazer’s investment vehicle Lancer Capital has reportedly placed an initial bid of around $1.8 billion.
In addition, prominent Indian business figures such as Adar Poonawalla and Ranjan Pai are also believed to be exploring participation in the bidding process. Their involvement highlights the growing financial appeal of IPL franchises.
IPL Franchises Attract Global Capital
The competition for RCB reflects a broader shift in the sports industry. IPL teams are no longer viewed simply as passion projects for wealthy owners. Global investment firms and institutional funds are increasingly treating them as major media and entertainment assets with long-term commercial potential.
With investors such as Blackstone and KKR & Co. already showing interest in sports properties worldwide, the league continues to attract serious financial backing.
A Potential Landmark Deal
If a sale goes through at the expected valuation, it could become one of the biggest franchise transactions in cricket history. More importantly, it would underline how the IPL has evolved into a global sports business powerhouse rather than just a cricket tournament.
All eyes are now on the upcoming bid deadline, which could determine the next chapter in the ownership story of Royal Challengers Bengaluru.