RCB up for sale: Diageo begins strategic review; decision by March 31, 2026

New Delhi: Diageo has begun a strategic review of its investment in Royal Challengers Sports Pvt Ltd (RCSPL), the wholly owned United Spirits subsidiary that owns the Royal Challengers Bengaluru teams in the men’s IPL and the Women’s Premier League (WPL). Diageo acquired RCB in 2008 through United Spirits. 

The company said the process is expected to conclude by March 31, 2026.

“RCSPL has been a valuable and strategic asset for USL; however, it’s non-core to our alcobev business,” said Praveen Someshwar, Managing Director & CEO, Diageo India. “This step reinforces USL’s & Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL’s best interest in mind.”

The company did not disclose details on potential structures or counterparties under consideration. The review will evaluate options for its investment in RCSPL and will be conducted over the coming months.

The company said the strategic review aligns with its portfolio-shaping priorities in India.

RCB, fresh off their historic IPL 2025 victory – their first title after 17 seasons – has become a cricketing powerhouse under the leadership of stars like Virat Kohli. 

The team's Women's Premier League (WPL) side also clinched the championship in 2024, adding to the franchise's appeal. 

Analysts estimate RCB's value could exceed $1 billion, given its massive fan base, lucrative sponsorships, and recent on-field success.