Overview
- Diageo, which owns Royal Challengers Bengaluru via United Spirits, has engaged Citi and other advisers to explore a franchise sale.
- At least six parties have held talks, including Adani Group, Adar Poonawalla, JSW’s Parth Jindal, a Delhi-based industrialist, and two U.S. private equity firms.
- Parth Jindal would have to exit his 50% stake in Delhi Capitals to satisfy the IPL’s cross-ownership ban before pursuing RCB.
- Internal friction is reported between Diageo’s UK headquarters and its India arm over whether to proceed, leaving the deal’s timeline and outcome uncertain.
- Pricing is anchored to future media-rights economics and RCB’s 2025 title lift, while due diligence may assess ongoing Bengaluru stadium issues and potential liabilities.