RCB ownership twist post IPL win: Nikhil Kamath, Ranjan Pai, Adar Poonawalla in the fray, says report
Diageo has commenced a “Strategic Review of Investment” in Royal Challengers Sports Pvt Ltd (RCSPL), the entity owning Royal Challengers Bengaluru (RCB) in the IPL and WPL, revealing its intention to sell the franchise. This move follows RCB’s breakthrough IPL title win after an 18-year wait and comes less than six months after their first championship. The process, disclosed to the Bombay Stock Exchange, is expected to conclude by March 31, 2026. The announcement has triggered significant interest among potential buyers, especially among prominent business figures with strong local and national ties, underscoring the franchise’s high profile and market appeal.
Reports have identified Nikhil Kamath, co-founder of Zerodha, and Ranjan Pai, chairman of the Manipal Education and Medical Group, as notable potential suitors. Both are Bengaluru-based billionaires whose local roots and financial strength make them attractive candidates to lead a consortium for the acquisition. Their proximity to the city is seen as advantageous for maintaining a close connection with RCB’s passionate fanbase. Forbes estimates Kamath’s net worth at $2.5 billion and Pai’s at $2.8 billion, underscoring their capacity to participate in an over $1 billion transaction.
The potential for a consortium featuring Kamath, Pai, and possibly Adar Poonawalla, CEO of Serum Institute of India, has emerged, following reports in national dailies. Adar Poonawalla recently hinted at his interest by posting on X: “At the right valuation, @RCBTweets is a great team…”. According to Forbes, Poonawalla’s net worth exceeds $20 billion, positioning the group as formidable contenders for the purchase. However, none of the parties have officially responded to these reports so far.
RCB’s market appeal
RCB’s market appeal has grown considerably since their IPL win. In 2022, Forbes valued the franchise at over $1 billion, a figure expected to rise following their inaugural trophy. A valuation by Houlihan Lokey in 2025 placed the IPL’s total business value at $18.5 billion and its brand value at $3.9 billion. RCB’s brand alone was estimated at $269 million, ranking highest among the league’s ten franchises. Reports suggest Diageo may seek around $2 billion for the franchise.
Diageo’s decision to sell RCB stems from a strategic realignment, as the company aims to refocus on its core alcohol business and divest non-core sports assets. Additional factors include reputational risks following the Chinnaswamy stadium stampede tragedy during the victory celebrations, which resulted in 11 fatalities and more than 50 injuries.
For the IPL and WPL, immediate changes are not expected. RCB’s current management will maintain operations until the sale process is complete. The next league milestone is the player retention deadline on 15 November, followed by a mini-auction. The Women’s Premier League team is also focused on preserving its core squad, with the existing RCB ownership overseeing these decisions during the transition. Diageo desires a smooth handover to new ownership.
A key consideration for potential investors is the local appeal of the franchise. Sources suggest that any consortium bidding for RCB would benefit from including members rooted in Bengaluru or the wider Karnataka region.
Despite the ownership transition, RCB’s brand value is expected to remain robust. Houlihan Lokey’s recent analysis placed RCB among the top three most valuable franchises in the league, with a brand value of $269 million. This resilience is attributed to the team’s strong fan following and their recent title success.
