RCB Takeover: In a landscape where cricket and commerce are becoming increasingly inseparable, one man may be poised to redefine the playbook: Adar Poonawalla.
The Serum Institute CEO, best known for steering one of the world’s largest vaccine manufacturers through a pandemic and into a portfolio of high-profile consumer investments, is now being linked to what could be Indian cricket’s most expensive franchise acquisition yet – Royal Challengers Bengaluru (RCB).
It all started with a single, carefully worded post on X (formerly Twitter):
“At the right valuation, @RCBTweets is a great team.”
That was enough to ignite a flurry of media speculation, and the cricketing world hasn’t stopped buzzing since.
The $2 Billion Question
Multiple sources across financial and sports media suggest that Diageo, the global liquor giant that controls United Spirits, and by extension, RCB is testing the waters for a potential sale. The reported asking price? A staggering $2 billion.
If achieved, that would not only make RCB the most valuable franchise in IPL history but one of the most prized single-team assets in the entire world of cricket.
Citi, a heavyweight in global investment banking, has reportedly been roped in to advise on the deal, adding more legitimacy to the murmurs.
Why That Valuation Isn’t as Wild as It Sounds
To the casual observer, $2 billion might seem excessive. But insiders and valuation analysts say it’s actually plausible – even expected.
RCB’s brand equity soared after their long-awaited IPL title win earlier this year in 2025. The team’s loyal fanbase, elite player roster, and massive digital footprint now put them near the top of IPL’s brand charts.
According to valuation firms like Houlihan Lokey, the IPL ecosystem saw explosive growth in 2025, driven by media rights, fan engagement, and sponsorship surges. RCB’s current standing positions it as a premium media and merchandising property – not just a cricket team.
To put it in context, Lucknow Super Giants were acquired by the RPSG Group in 2022 for Rs 7,090 crore (approx. $850 million). If RCB does go for $2 billion, it would more than double that benchmark.
The Tweet That Lit the Fuse – And a Lalit Modi Boost
Poonawalla’s tweet, though short and vague, came at just the right time. Adding fuel to the fire was former IPL commissioner Lalit Modi, who chimed in on social media calling RCB a “prime investment,” even suggesting global and sovereign wealth funds would queue up for the opportunity.
Those two messages alone were enough to push the story from niche chatter to front-page speculation.
How RCB Got Here: From Mallya to Diageo
RCB’s origins trace back to 2008, when the flamboyant Vijay Mallya’s UB Group bought the franchise for $111.6 million. After Mallya’s empire began to unravel, Diageo gradually acquired control of United Spirits, and by 2014, became the de facto owner of RCB.
Today, any sale of the franchise would be handled through Diageo and its subsidiary United Spirits, subject to regulatory and internal approvals.
What a Poonawalla Takeover Could Mean
If the deal goes through, it would symbolize more than just a high-ticket acquisition. Here’s what it could mean:
- Trophy + Traction: With the IPL title now in their cabinet, RCB is no longer just a “nearly there” team. It’s a hot, modern media asset with unmatched merchandising, fan loyalty, and international appeal.
- A New Billionaire Playbook: For India’s corporate elite, owning an IPL team is the new calling card. It’s not just about cricket – it’s about cultural visibility, brand diversification, and soft power. Poonawalla’s entry would align him with peers like Mukesh Ambani and N. Srinivasan in owning iconic sports properties.
- Regulatory Complexity: Any deal will have to satisfy IPL ownership rules, Diageo’s corporate governance policies, and India’s advertising regulations – particularly around alcohol brands in sports.
RCB vs Global Giants – How Big is This Deal Really?
To frame it globally, $2 billion might sound eye-popping for cricket, but it still lags behind some blockbuster sales in other sports. The Los Angeles Lakers sale earlier this year reportedly topped $10 billion, and teams like the Boston Celtics and Washington Commanders also fetched record sums.
Still, for Indian sports, a $2B RCB valuation would reset expectations and cement IPL’s status as a global sports and media force.
What Happens Next?
So far, no official confirmation has come from Diageo, United Spirits, or Poonawalla’s camp beyond generic denials. But if Citi is truly on board as the advisor, here’s the likely roadmap:
- Due Diligence Phase: Initial evaluations of the team’s assets, contracts, sponsorships, and liabilities.
- Expression of Interest: Qualified bidders (possibly beyond Poonawalla) may be invited to submit proposals.
- Binding Offers & Approvals: Final bids and clearance from BCCI, regulators, and Diageo’s internal boards.
This process may stretch over several months, but eyes will be glued to United Spirits’ filings and any movement on Poonawalla’s front.
More Than Just a Team
At its core, this is not just a business story or a sports deal. It’s a snapshot of where modern India is headed, where sports, business, brand power, and ambition collide. And whether or not Adar Poonawalla ends up owning RCB, his interest alone signals that the IPL is no longer just India’s cricket league.
It’s a billion-dollar battleground where the world is starting to take notice.