Diageo India, the Indian arm of UK-based Diageo Plc, which owns the Royal Challengers Bangalore (RCB) franchise in the Indian Premier League (IPL), has firmly denied media reports suggesting the sale of the team. In a letter addressed to the Bombay Stock Exchange (BSE) on June 10, Mital Sanghvi, the company secretary, clarified that the reports about Diageo’s intent to sell RCB are purely speculative.
“The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion,” Sanghvi stated, adding that the clarification was for the information and records of the stock market regulator.
The response from Diageo came after media reports, including one from Bloomberg, indicated that the company was exploring options to sell the franchise, with a possible valuation of USD 2 billion. This news surfaced shortly after RCB’s first-ever IPL victory on June 3, 2025, marking a historic moment for the team. However, this was followed by tragic news on June 4 when celebrations in Bengaluru led to a stampede, causing 11 deaths and leaving many others injured.
Despite Diageo’s clarification, the talk of an RCB sale continues to stir discussions within the sports community. There are various speculations about the potential reasons for such a move, with some suggesting that reputational pressure on a publicly traded company like Diageo could be a factor.
Bloomberg also reported that Diageo was aiming for a valuation of around USD 2 billion for the franchise, a figure that has sparked mixed reactions. While some industry voices have dismissed this valuation as inflated, citing recent sales such as the Gujarat Titans’ acquisition at INR 7,500 crore (approximately USD 1 billion), others, including Lalit Modi, the creator of the IPL, have stated that a USD 2 billion valuation is realistic and could even be conservative in light of the franchise’s success and brand value.
RCB, one of the original eight IPL teams founded by Vijay Mallya in 2008, continues to be a major player in the IPL, with a large fanbase and a high profile in Indian cricket.
However, with Diageo’s official statement, it remains uncertain whether the sale will proceed, as the company has yet to make any final decisions on the matter. For now, RCB’s future remains up in the air, with many waiting to see how the situation unfolds.
