The Royal Challengers Bengaluru (RCB) sale saga has officially moved from speculation to execution. Owners Diageo has now begun the formal process to sell RCB, with information memorandums circulated to potential buyers. This is the clearest signal yet that one of the IPL’s most valuable franchises is on the market.
The development is reported by Sportico, the Journal of the Business of Sports. According to their source with direct knowledge of the process, Diageo, through its Indian subsidiary United Spirits, has sent out books for RCB. While timelines for binding bids can still take time, the exercise confirms that the review announced late last year has entered an active sale phase.
For those unaware, the going out of book refers to the Confidential Information Memorandum (CIM), which is the primary marketing document used to sell a company. It is a comprehensive report, often 30 to 150 pages long, that provides potential buyers with the detailed information they need to evaluate the business and submit an initial offer
Reports have pegged RCB’s valuation close to $2 billion, roughly translating to over INR 1,800 crore, following the franchise’s IPL 2025 title win and commercial dominance. RCB have Virat Kohli, the most commercial Indian superstar of all time.
United Spirits has appointed Citigroup as its advisor for the transaction. The mandate is expected to draw interest from private equity firms, investors and high-net-worth individuals, with the process likely to conclude by the end of March. The new IPL 2026 season is set to begin on March 26, a deadline before when Diageo would like to sell their biggest asset in India.
RCB sale officially starts as Diageo sends out books; INR 18,000 crore valuation floated Inside Sport India.
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