Adar Poonawalla to table 'strong and competitive' bid to buy RCB ahead of IPL 2026

The pursuit of new ownership for Royal Challengers Bengaluru (RCB) reached a major milestone on January 22, as billionaire pharma tycoon Adar Poonawalla announced his intent to acquire the franchise. The CEO of the Serum Institute of India confirmed on social media that he will be submitting a 'strong and competitive' bid in the coming months, marking a high-profile entry into the race for one of the world's most valuable sporting assets.

Adar Poonawalla to bid for RCB

The decision to sell follows a "strategic review" by the team’s current owner, United Spirits Ltd (Diageo), which recently declared the franchise a non-core asset to its primary alcohol and beverage business. This move comes at a high point for the team; RCB is the defending Indian Premier League (IPL) champion, having ended an 18-year wait for silverware by winning the 2025 title. The franchise's brand value has skyrocketed since the victory, with Diageo reportedly seeking a valuation in the region of $2 billion.

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Will be putting in a strong and competitive bid for RCB: Poonawalla

Despite their on-field success, the sale process has been accelerated by recent challenges, including a tragic stampede during last year's victory celebrations and ongoing stadium safety concerns. While other heavyweights like Hombale Films and the Adani Group have also been linked to the sale, Poonawalla’s public declaration makes him a frontrunner. With the 2026 IPL season set to begin on March 26, the ownership transfer is expected to be finalized by the end of the first quarter.

“Over the next few months, will be putting in a strong and competitive bid for RCB, one of the best teams in the IPL,” Poonawalla wrote on his X handle.

While Adar Poonawalla has confirmed his intention to bid, he has not yet disclosed specific details such as a precise timeline or the exact financial amount he plans to offer. However, the window for these negotiations is narrow; with IPL 2026 scheduled to kick off on March 26, any potential ownership transfer will need to be finalised in the coming weeks to ensure a smooth transition before the season begins.

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The process to find a new owner for the franchise was initiated in November 2025 by United Spirits Ltd (USL), the Indian subsidiary of global beverage giant Diageo. While Forbes India currently values the team at approximately $105 million, market speculation suggests the actual sale price could be significantly higher. Diageo has reportedly set an ambitious asking price of $2 billion, aiming to capitalize on the team's massive brand equity and recent championship win.

The decision to sell was reportedly accelerated by a tragic stampede on June 4, which claimed the lives of 11 fans during the team’s title celebrations. Praveen Someshwar, Managing Director and CEO of United Spirits Ltd, clarified that while the franchise has been a "valuable and strategic asset," it is ultimately considered "non-core" to their primary alcoholic beverage business. This strategic pivot marks the end of an era for the team, which has been under the Diageo umbrella since they acquired a controlling stake from Vijay Mallya in 2014.