RCB up for sale: Diageo starts strategic review, new owner expected by March 31

According to a report by ESPNCricinfo, Diageo announced that it had begun a “strategic review” of its investment in RCB through Royal Challengers Sports Private Limited (RCSPL), the entity that owns both the men’s and women’s teams. The announcement was made in a filing with India’s market regulator, the Securities and Exchange Board of India (SEBI), on Wednesday. RCSPL is a wholly owned subsidiary of United Spirits Ltd (USL), which in turn is controlled by Diageo. The review process is expected to conclude by March 31, 2026, after which RCB could have a new owner.

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"RCSPL has been a valuable and strategic asset for USL; however, it is non-core to our alcobev (alcohol and beverages) business," said Praveen Someshwar, Managing Director & CEO of United Spirits, in the SEBI filing. "This step reinforces USL and Diageo's commitment to reviewing our India portfolio to ensure sustained long-term value for stakeholders, while keeping RCSPL's best interests in mind."

Speculation grows amid Diageo’s financial strain

While rumours of a possible sale had circulated for months, they initially surfaced after the horrifying stampede outside the M. Chinnaswamy Stadium in Bengaluru during Royal Challengers Bengaluru’s victory parade in June, a day after their maiden IPL title triumph. It was around that time that speculation intensified.

However, Diageo has been under mounting financial pressure in recent years, with challenges across several of its global markets. Earlier this year, in June, United Spirits Ltd. (USL) company secretary Mital Sanghvi had denied the rumours. But with Diageo now facing headwinds globally, that stance appears to have shifted.

The ESPNCricinfo report added that the change in ownership will not affect planning for the upcoming IPL and WPL auctions. Any prospective owner will still require clearance from the IPL, and the process is expected to extend beyond the 2026 season.

The WPL is likely to begin in January next year, while the IPL, whose auction is scheduled for December, is expected to kick off in March 2026.

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