The Royal Challengers Bengaluru (RCB) franchise is officially on the market, with its owners, Diageo, initiating the process to sell the team and finalize a new ownership deal by March 31, 2026.

In a formal disclosure to the Bombay Stock Exchange (BSE), Diageo announced a “strategic review” of its investment in Royal Challengers Sports Pvt. Ltd. (RCSPL) — a wholly owned subsidiary of United Spirits Ltd. (USL). The statement confirmed that RCSPL owns and manages both the men’s IPL and women’s WPL teams under the RCB brand, participating in tournaments organized by the Board of Control for Cricket in India (BCCI).

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), with the company noting its intent to wrap up the divestment process within the next financial year.

USL Managing Director and CEO Praveen Someswar said that while RCB had been a “valuable and strategic asset,” it remained outside the company’s core business focus.

“RCSPL has been an important and high-performing investment for USL, but it does not align with our core alcobev business,” Someswar stated. “This move underscores Diageo’s and USL’s ongoing commitment to optimize our India portfolio and drive long-term value creation for all stakeholders, while safeguarding RCSPL’s future interests.”

According to Cricbuzz, several major players have expressed interest in acquiring the Bengaluru-based franchise. Among the names reportedly in the mix are a US-based private equity firm, JSW Group, Adani Group, Adar Poonawalla (CEO of Serum Institute of India), and Ravi Jaipuria of Devyani International Group.

If the sale goes through, it will mark one of the most significant ownership transitions in the IPL’s history, potentially reshaping the commercial and strategic landscape of one of cricket’s most popular franchises.