Manchester United Owners Bid Big for Royal Challengers Bengaluru

Introduction

The Royal Challengers Bengaluru (RCB), celebrated for their recent IPL triumph, are becoming the focal point of one of the most competitive franchise sales in Indian sports history. Following their long-awaited championship win in 2025, RCB’s current owners, Diageo, are now considering offers from various high-profile bidders eager to acquire the successful franchise.

Current Bidding Landscape

According to recent reports, RCB has received nine non-binding bids ranging from $1 billion to $1.8 billion. Non-binding bids imply no legal obligation for both buyer and seller to finalize a transaction, making the process highly competitive.

Among the bidders, the Glazer family, renowned as the owners of Manchester United, has made headlines with their substantial bid through Avram Glazer’s Lancer Capital. Valued at approximately $1.8 billion, or about INR 16,321 crore, their offer positions them as frontrunners in the bidding war.

A Shift in Valuation

Interestingly, the Glazer family previously attempted to enter the IPL market in late 2021 but fell short during the auction for new franchises. Their past bid of ₹4,128.65 crore was insufficient, leading to losses to the RPSG Group and CVC Capital. However, this time, they appear much more aligned with the current valuation trends of IPL teams.

Diageo’s valuation after RCB’s championship win has reportedly set expectations nearing $2 billion. This amount underlines the commercial strength and massive fanbase RCB commands, significantly boosted by its association with cricket superstar Virat Kohli.

The Reasons for Sale

Diageo’s decision to put RCB up for sale stems from shifts in business priorities. The company informed the Securities and Exchange Board of India (SEBI) in November that RCB was being re-evaluated as a non-core asset, diverging from its focus on alcoholic beverages. Business considerations, particularly surrounding reputational risks following incidents at RCB’s title celebration, also prompted this strategic move.

The Competitive Field

The ongoing sales process exhibits an influx of global investors keen on entering the lucrative IPL market. Not only are the Glazers in play, but notable figures such as Adar Poonawalla, backed by TPG, and Dr. Ranjan Pai, who is exploring consortium options with KKR, are also in the mix. Moreover, Premji Invest and Sweden’s EQT have shown interest, indicating a vibrant investment climate in Indian cricket.

With bids continuing to roll in and the auction heating up, the future of RCB hangs in the balance, capturing the attention of fans and investors alike.