Royal Challengers Bengaluru (RCB), the Indian Premier League (IPL) 2025 champion, has been put on sale. United Spirits Limited - the current owners of the side, which plays in both the IPL and the Women's Premier League (WPL) - have already initiated the sale process and are confident of completing the sale by March 31, 2026. RCB, which has been part of the IPL since 2008, won the top franchise league for the first time in 2025. They also won the WPL in 2024. RCB has in its roster big players like Virat Kohli, Smriti Mandhana, and Josh Hazlewood, among others.
Reports suggest that Diageo, parent company of United Spirits Limited, is seeking a valuation of around USD 2 billion for RCB. The sports business accounted for 8.3 percent of the company's total profit in the last financial year ending March 31, 2025. There are reports that vaccine king Adar Poonawalla is interested in securing the sports business. While the sale is expected to be completed by March 31, 2026, the franchise will be seen bidding for players and participating in the WPL auction on November 27.
In a communication to the Bombay Stock Exchange (BSE) on Wednesday, Diageo called it a 'Strategic Review of the Investment Royal Challengers Sports Pvt Ltd (RCSPL),' a wholly owned company of United Spirits Ltd, the Indian subsidiary of Diageo.
"United Spirits Ltd. ("USL") is initiating a strategic review of the investment in its wholly owned subsidiary, RCSPL. RCSPL's business comprises ownership of the "Royal Challengers Bengaluru (RCB)" franchise teams that participate in the Men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually," the company stated in the disclosure.
Most importantly, the disclosure said it 'expected the process will conclude by March 31st, 2026.'
"Praveen Someshwar, Managing Director & CEO, United Spirits Ltd, commented: "RCSPL has been a valuable and strategic asset for USL, however it's non-core to our alcobev business. 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 disclosure added.
from NDTV News- Special https://ift.tt/7o8t143
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