Intro
Glazers emerge serious contenders as race heats up to acquire Bengaluru IPL franchise
Bengaluru
The race to acquire Royal Challengers Bengaluru (RCB) appears to have taken a dramatic turn, with reports suggesting that Manchester United co-owners, the Glazer family, have submitted a massive bid of $1.8 billion (approximately Rs 16,300 crore) to buy the IPL franchise.
According to a report later picked up by several UK-based publications, the Glazers have entered the fray with a valuation that could potentially outstrip other interested parties, including Serum Institute chief Adar Poonawalla. The development underlines the growing global appeal and commercial strength of Indian Premier League franchises.
The timing of the reported bid is significant. Just days ago, Smriti Mandhana-led RCB clinched their second Women’s Premier League title by defeating Delhi Capitals, becoming the first franchise to hold titles in both the IPL and WPL simultaneously. The on-field success has further boosted the brand value of the Bengaluru-based outfit.
RCB is currently owned by Royal Challengers Sports Ltd, a subsidiary of Diageo. Sources indicate the owners have valued the franchise at close to $2 billion and have engaged a London-based consulting firm to assess the bids. A detailed report is expected to be submitted by March 31.
Apart from the Glazers, as many as eight other parties are believed to have submitted non-binding bids, ranging between $1 billion and $1.8 billion. The list of interested suitors reportedly includes Adar Poonawalla, the Adani Group, and JSW, among others.
The Glazers are no strangers to IPL aspirations. They had previously attempted to acquire a franchise in 2021 but missed out when Gujarat Titans and Lucknow Super Giants were awarded new teams by the BCCI. Reports also suggest they are exploring a parallel bid for Rajasthan Royals, who have reportedly received five advanced-stage offers.
Sources told DH that even if a deal is finalised, ownership of RCB is unlikely to change hands before the conclusion of the 19th edition of the IPL, scheduled to begin towards the end of March.
With elite global investors circling, RCB’s future ownership battle is shaping up to be one of the biggest in IPL history.