IPL champions Bengaluru could fetch up to $2 billion as owner considers sale
The owner of Indian Premier League (IPL) champions Royal Challengers Bengaluru (RCB) is exploring a potential sale of the team, which could be valued at up to $2 billion, News.Az reports, citing AFP.
United Spirits Ltd (USL), the Indian subsidiary of global drinks giant Diageo, informed the Mumbai Stock Exchange that it has begun a “strategic review of the investment” in RCB.
USL CEO Praveen Someshwar described RCB as “a valuable and strategic asset,” but noted it was “non-core to our alcobev business.” He said the review underscores the company’s ongoing effort to evaluate its India enterprise portfolio, adding that RCB’s “best interests” would remain a priority.
The review, expected to conclude by March next year, covers Royal Challengers Sports Pvt Ltd, which owns both the men’s and women’s RCB teams.
RCB won their first-ever IPL title in June, marking a historic moment in the men’s T20 league established in 2008. Following the championship, Bloomberg reported that the franchise owners were considering options including a partial or full sale, targeting a valuation of around $2 billion.
However, celebrations turned to tragedy during the homecoming parade in Bengaluru, when a stampede outside the Chinnaswamy Stadium left 11 fans dead and more than 50 injured.
Prime Minister Narendra Modi called the incident “absolutely heartrending,” while RCB star Virat Kohli said he was “at a loss for words” following the disaster.
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