RCB’s meteoric rise sparks intense global bidding
Fresh off its historic title win in the 2025 IPL season and a Women’s Premier League championship soon after, Royal Challengers Bengaluru (RCB) has become the centerpiece of one of the most fiercely contested bidding wars in IPL history.
According Venkat Ananth in the State of Play, nine different parties have submitted non-binding bids for the franchise, with valuations ranging from $1 billion to $1.8 billion. These preliminary offers, known as R1 bids, are expected to help RCB shortlist contenders before moving toward binding offers in the coming weeks.
While the figures reflect surging interest, insiders note that these bids are not yet commitments. Instead, they are signals of intent as potential owners navigate due diligence and financial structuring.
High-profile names and institutional capital circle RCB
According to multiple reports, as confirmed by cricexec, the bidding lineup features an elite mix of global billionaires and Indian business powerhouses.
Avram Glazer, executive co-chairman of Manchester United, is said to have submitted the highest bid — INR 16,303 crore (approx. US$ 1.8 billion).
Breaking this PM on @stateofplayclub:
Avram Glazer, executive co-chairman of @ManUtd, has bid $1.8 billion for RCB. The amount is nearly double the $940m RPSG paid for Lucknow in 2021
– RCB has received nine bids in total.
– RR has shortlisted five parties, including Glazer.— Venkat Ananth (@venkatananth) February 6, 2026
Not far behind are Serum Institute’s Adar Poonawalla (US$ 1.65 billion), industrialist Gautam Adani (US$ 1.54 billion), and JSW Group’s Parth Jindal (US$ 1.32 billion).
US-based tech entrepreneur Sanjay Govil – owner of the MLC’s Washington Freedom, and co-owner of the Welsh Fire in The Hundred in partnership with Glamorgan County Cricket Club, has also reportedly entered the race with a bid of US$ 1.1 billion.
These figures signal the seriousness of interest from both domestic and international players, as IPL valuations surge amid record fan engagement and commercial success.
The Glazers’ long game and IPL ambitions
The Glazer family’s interest in cricket is hardly new. Through Lancer Capital, Avram Glazer already owns the Desert Vipers in the UAE’s ILT20 league.
His renewed focus on RCB comes at a time when his family recently agreed to sell a 25% stake in Manchester United to Sir Jim Ratcliffe in a deal valuing the Premier League club at $5.4 billion, according to Forbes. The Glazers continue to own the NFL’s Tampa Bay Buccaneers, acquired in 1995 for $192 million and now estimated to be worth about $5.2 billion, net of debt, as per Forbes.
As reported in The Mirror, Glazer has been eyeing Indian cricket opportunities for several years, and his presence in the RCB race aligns with that long-term strategy.
Indian heavyweights and strategic consortiums emerge
Indian bidders are no less ambitious. According to Moneycontrol, Dr. Ranjan Pai, founder of Manipal Education and Medical Group (MEMG), has been in advanced discussions with global private equity firm KKR, with Temasek Holdings potentially joining the consortium. The Singapore-based sovereign fund already partners with Pai through Manipal Hospitals.
Moneycontrol was also the first to report on the non-binding bids from Poonawalla, EQT, and Premji Invest. Premji Invest — known for its conservative portfolio in tech and healthcare — sees RCB as a bold move into the booming sports investment sector.
EQT, the Swedish private equity giant with over $258 billion in assets, is also looking to make its first major Indian sports investment.
Capri Global has also submitted a bid. The financial firm owns the WPL’s UP Warriorz and ILT20’s Sharjah Warriors.
Strategic hurdles and regulatory realities
As per The State of Play, the BCCI is expected to enforce ownership exclusivity, meaning bidders must eventually choose between RCB and other franchises such as the Rajasthan Royals, which are also up for sale. Some consortiums are still in flux, with participants negotiating alignments behind the scenes.
In addition, “the BCCI is cautious about standalone foreign ownership since CVC’s acquisition of Gujarat Titans and would prefer a local partner,” a person familiar with developments told The State of Play.
Avram Glazer and Sanjay Govil are reportedly exploring such partnerships to comply with BCCI’s expectations, especially if they aim to pursue more than one IPL asset.
From due diligence to deal day: what’s next
RCB’s parent company, Diageo, set a March 31 deadline for the sale process in its November exchange filing. While the transaction may close later in the year, the initial timeline suggests that binding offers and exclusivity discussions will soon begin.
The nine-party scramble, as pointed out by the State of Play, also represents the IPL’s first real test of team valuations since the 2021 expansion, when the Lucknow Super Giants and Gujarat Titans were sold for ~$940 million and ~$750 million respectively. The wide gap in current bids — some reportedly as low as $1 billion — reflects caution from institutional investors facing an uncertain media rights environment.
Yet with one of the league’s most iconic and valuable franchises on the market, and record bids already in play, the eventual winner won’t just acquire a team — they’ll claim a critical stake in the future of global cricket’s most valuable league.
