Overview
- Shortlists include Lancer Capital led by Manchester United co-owner Avram Glazer for both teams, alongside Manipal Group, Adar Poonawalla, Times Group, EQT, Capri Global, Sanjay Govil and Premji Invest for RCB, with Capri Global, Kal Somani, Govil and Times Group in the RR mix.
- Expected bid ranges are reported at $1.2–$1.8 billion for RCB and $1.2–$1.4 billion for RR, based on initial non-binding offers.
- Citigroup is running the RCB sale and Raine Group is managing RR, with final binding offers targeted by late February for RCB and the first week of March for RR.
- Owners of both franchises are open to selling 100% stakes, with RCB owner Diageo conducting a strategic review and signaling a goal to close a deal by March 31.
- Any transaction will require BCCI ratification, and under IPL rules the board would receive 5% of the sale amount.