THE SALE PROCESS FOR IPL team Royal Challengers Bengaluru has entered its final stage, with two bidders submitting binding offers.
Team owners United Spirits, part of the Diageo group, is now preparing to review the remaining proposals and decide on a preferred buyer with the sale price reportedly in the $2 billion ball park.
Swedish private equity firm EQT and a consortium featuring Ranjan Pai of Manipal Hospitals, US-based private equity firm KKR (Kohlberg Kravis Roberts & Co) and Singapore investment major Temasek are the two entities left in the race after the Glazer family, owners of Manchester United and Adar Poonawalla, ultimately chose not to submit binding bids.
USL has set a target deadline of March 31 to conclude the sale process. While binding bids were due by March 16, the overall transaction, including the identification of the preferred bidder and the beginning of the exclusivity phase, may stretch beyond March 31.
The sale follows a strategic review by United Spirits Limited, which deemed RCB non-core to its alcohol business. Initiated in November 2025, the sale transaction includes both the men’s IPL and women’s WPL teams.
