RCB Sale Nears Final Stage as Valuation Touches $2 Billion

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Royal Challengers Bengaluru are preparing for IPL 2026 as defending champions - but off the field, a far bigger transition is quietly unfolding.

The franchise's ownership is set to change hands, with the sale process now entering its final stage and valuations touching the $2 billion mark.

Two bidders remain as race narrows

After weeks of interest from multiple global investors, the race to acquire RCB has narrowed down to two serious contenders.

Swedish private equity firm EQT has emerged as one of the frontrunners with a bid believed to be close to $2 billion. The second bidder is a consortium led by Ranjan Pai, along with global investment giants KKR and Temasek.

At one point, at least five parties had shown interest in buying the franchise. However, names like the Glazer family and Adar Poonawalla have now dropped out, leaving a two-horse race heading into the final phase.

Why the $2 billion mark matters

RCB's valuation is not just about the team - it reflects the IPL's growing position as one of the most valuable sports leagues in the world.

Even a slightly lower deal, in the range of $1.8 billion, would comfortably surpass previous franchise sales. For context, Lucknow Super Giants were bought for around $850 million in 2021.

That said, not all bidders have been willing to stretch to the $2 billion figure. A key factor influencing valuations is the uncertainty around the next IPL media rights cycle, which may not see the same explosive growth as before.

Still, RCB's brand value - driven by a massive fanbase, consistent commercial success, and global appeal - keeps it among the most attractive assets in franchise cricket.

What happens next?

With binding bids now submitted, the process moves into an exclusivity phase where the current owners - Diageo's United Spirits - will evaluate offers in detail.

This stage is expected to take between 45 to 90 days. Once a preferred bidder is finalised, the deal will require approval from the BCCI before ownership can officially transfer.

While the initial target was to close the deal by March 31, timelines suggest a new owner is more likely to be in place around September or October 2026.

Rajasthan Royals sale also gathers pace

RCB aren't the only franchise on the market. Rajasthan Royals have also attracted strong investor interest, with at least three parties submitting binding bids. The Aditya Birla Group is currently seen as a leading contender, reportedly in a consortium with US-based investor David Blitzer.

Valuations for Rajasthan Royals are estimated between $1.1 billion and $1.35 billion. Unlike RCB, however, there is no immediate deadline, giving the franchise flexibility to negotiate and maximise value.

Bigger picture: IPL's business boom

What stands out across both sales is the scale of money involved.

Franchises are no longer just cricket teams - they are global sports businesses, combining media rights, sponsorship ecosystems, fan engagement, and digital reach.

RCB's potential $2 billion valuation underlines how far the IPL has evolved from a domestic T20 tournament into a multi-billion-dollar sporting ecosystem.

And while the players prepare for another season on the field, some of the biggest moves in IPL 2026 are already happening far away from the pitch - in boardrooms, negotiations, and billion-dollar bids.