Poonawalla Announces Plans For Making ‘strong And Competitive’ Bid For RCB’s Ownership

Poonawalla announces plans for making ‘strong and competitive’ bid for RCB’s ownership (Image Source: IANS)

Shaheed Veer Narayan Singh International: Pharma tycoon Adar Poonawalla said he will make a ‘strong and competitive’ bid for securing the ownership of the reigning champions of the Indian Premier League (IPL), the Royal Challengers Bengaluru (RCB).

"Over the next few months, we will be putting in a STRONG and COMPETITIVE bid for RCB, one of the best teams in the IPL," Poonawalla, Chief Executive Officer of Pune-based vaccine-maker Serum Institute of India (SII) and Chairman of Poonawalla Fincorp, wrote in a post on his official ‘X’ handle on Thursday.

London-based Diageo, the parent company of United Spirits Ltd, began efforts in November last year to sell the team, valued at around 105 million USD. The move was accelerated after a stampede during RCB’s IPL victory celebrations outside the M Chinnaswamy Stadium in June 2025 killed 11 fans.

Praveen Someshwar, Managing Director & CEO of United Spirits Ltd, had said: “RCSPL has been a valuable and strategic asset for USL, however it’s non-core to our alcohol business. This step reinforces USL’s and 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.”

RCB, who won their maiden IPL title last season, are also weighing options to shift home matches away from Bengaluru for the 2026 campaign, with the DY Patil Stadium in Navi Mumbai and the Shaheed Veer Narayan Singh International Cricket Stadium in Raipur in discussions to host their home fixtures.

Praveen Someshwar, Managing Director & CEO of United Spirits Ltd, had said: “RCSPL has been a valuable and strategic asset for USL, however it’s non-core to our alcohol business. This step reinforces USL’s and 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.”

RCB is one of the original franchises of the Indian Premier League, having been part of the league since 2008, with legendary players Virat Kohli, Anil Kumble, and AB de Villiers associated with it over the years.

Article Source: IANS